With US President Donald Trump set to announce reciprocal tariffs later today, a report by Motilal Oswal suggests that its impact on India will be minimal.
US President Donald Trump will announce a new tariff plan on April 2, dubbed "Liberation Day," in a Rose Garden press conference. While details remain unclear, the administration has hinted at reciprocal tariffs targeting foreign trade policies deemed unfair to American workers.
Taiwan is preparing contingency plans in response to potential US tariffs, as officials emphasise that the trade surplus stems from high US demand for Taiwanese technology. President Lai Ching-te met with senior officials to assess the economic impact and discuss support measures for affecte
India could see a loss of around USD 6 billion, or 0.16 per cent of its GDP, in exports to the US if broad tariffs of 10 per cent are enacted, Emkay Global, a research & investment firm, said in a latest report.
"And because India does apply tariff lines to a number of American exports to India, if you strictly understand what reciprocal means, it would mean that our exports to America will also be affected. So I'm hoping that in the talks they'll find some sensible outcome" he said
The Indian stock markets extended their strong rally into the second consecutive week, buoyed by strong foreign inflows and a recovery in domestic economic indicators.
President Donald Trump's reciprocal tariffs have started a global trade war and it will reduce not only the growth of the United States (US) and the world but also push up inflation and delay Federal Reserve rate cuts in US according to a report by Fitch Ratings.
Patanjali Founder Baba Ramdev on Sunday strongly condemned US President Donald Trump's decision to impose reciprocal tariffs, which would be initiated from April 2, calling it a form of "tariff terrorism."
Congress' Pawan Khera slammed Prime Minister Narendra Modi-led government Donald Trump's statement on India agreeing to 'reduce' tariffs and questioned whether the reported deal was signed "under pressure."
Congress MP Manish Tewari on Saturday said that if India has decided to reduce tariff under the pressure of US then it is "unfortunate" and "does not make for good trade policy."
In a weekly briefing, MEA spokesperson Randhir Jaiswal said that the agreement aims to strengthen and deepen India-US two-way trade in goods and services, increase market access, and reduce tariff and non-tariff barriers.