President Donald Trump's higher tariff rates of 10% to 50% on dozens of trading partners kicked in on Aug. 7, testing his strategy for shrinking U.S. trade deficits without massive disruptions to ...

Already the share of customs duties in overall tax collections is coming down. In 2024-25 Customs accounted for only 8.7% of ...

Nirmala Sitharaman said the proposed customs reforms would be similar to the simplification undertaken in the Income Tax Act ...