India should strengthen its Production Linked Incentive (PLI) schemes in light of growing global trade competitiveness, especially after U.S. President Donald Trump announced reciprocal tariffs on several countries, including India, according to a report by State Bank of India (SBI).
The US stock markets tanked more than 5 per cent on Friday after Donald Trump's reciprocal tariffs sparked fear among investors of a global economic recession.
In response to the United States imposing a 26 per cent reciprocal tariff on India, Roman Babushkin, Minister of Counsellor and Deputy Chief of Mission at the Embassy of Russia in India, emphasised Russia's confidence in its relations with India and said that despite "deliberate attempts" to
Donald Trump has reacted to the tariffs imposed by China. He said that China had "panicked" after his announcement of tariffs imposed on China on Thursday.
Indian stock indices closed the week on a sour note, extending losses from the previous session. They were weighed down by the Trump reciprocal tariffs and the uncertainties surrounding them.
The Congress party, along with other Opposition leaders, accused the BJP-led government of failing to protect India's economic interests and demanded that the Centre clarify what steps it is taking to address the trade dispute with Washington.
"See, what has happened now...The US has imposed tariffs on us. Satya Naas kiya (they have ruined). There was friendship (between India and the US), but see what has happened now," Sawant told ANI.
The nature of broad-based tariffs announced by US President Donald Trump and potential retaliation by other countries is likely to initiate a vicious cycle of global growth, says a report by SBI Research.
His comments came after Dhankar tried to poke fun at Chadha, stating that the AAP MP was "obsessed" with the events in the Donald Trump administration.
The uncertainties around Trump's reciprocal tariffs plan and its subsequent announcement this week have come as a jab in the arm for international gold prices, which have been moving northwards for a considerable period.
Following US President Donald Trump's announcement of reciprocal tariffs, Canada PM Mark Carmey said that the country will impose a 25% tariff on all US vehicle imports that do not comply with the free trade agreement.