Following US President Donald Trump's announcement of reciprocal tariffs, International Monetary Fund (IMF) Managing Director Kristalina Georgieva expressed concern over the impact on the global economy and said that the tariffs represent a "significant risk to the global outlook."
Congress leader and Leader of Opposition in Lok Sabha Rahul Gandhi said on Thursday that the United States' decision to impose reciprocal tariffs will "completely devastate our economy" with the auto industry, pharmaceuticals and agriculture among sectors expected to face the brunt.
Aam Aadmi Party leader Raghav Chadha on Thursday took a swipe at the US imposing reciprocal tariffs on India and recalled lines of a popular Hindi number while stating that "Trump Tariff" could wreck the Indian economy.
Reacting to this, RK Aggarwal (National President, Bulk Drugs Manufacturers Association of India) said that it will have no impact on the pharma sector.
The Indian stock indices closed Thursday's session lower, weighed down by the heat of the US administration's reciprocal tariffs imposed on partner countries, including India.
Congress leader Randeep Surjewala on Thursday expressed concern over the 26 per cent tariffs imposed by US on India and criticised Prime Minister Narendra Modi over the issue.
Faced with President Donald Trump's reciprocal tariffs, India on Thursday said it is studying the opportunities that may arise from this new development in US trade policy.
Congress top brass and the Leader of Opposition in the Lok Sabha, Rahul Gandhi, launched a sharp critique of the Union Government's foreign policy, spotlighting China's occupation of Indian territory and the recent US tariff hike.
US President Donald Trump's reciprocal tariffs will impact the American economy more, leaving them with limited buying options to cater for their needs, Ranjeet Mehta, CEO and Secretary General of industry body PHDCCI, told ANI.
The imposition of reciprocal tariffs by the US President Donald Trump is set to slow down global trade significantly, according to a report by HSBC Research.
"... The friendship between them (US President Trump and PM Modi) and the way they embrace each other and talk and now these tarriffs. It shows that America (Donald Trump) is a businessman. 'Aur wo humara customer phas gaya'. (And our customers are getting trapped."
India will review and assess the impact of reciprocal tariffs, said Union Minister of State for Finance Pankaj Chaudhary on Thursday, reacting to the 27 per cent tariffs on Indian export to the US.