The imposition of higher reciprocal tariffs by US President Donald Trump on several Asian and European countries, including China, Vietnam, Taiwan, Thailand, and Bangladesh, presents a strategic opportunity for India to strengthen its position in the global trade and manufacturing says GTRI
According to new U.S trade policy announced by President Donald Trump on Wednesday, how much a country pays in tariffs will depend on the type of goods being exported and their origin, says GTRI founder Ajay Srivastava.
Asian stock markets faced a heavy sell-off on Thursday after US President Donald Trump announced reciprocal tariffs on multiple countries, including India. The move triggered a wave of uncertainty, leading to sharp declines across major indices in the region.
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