The BSE Sensex started the session 162.63 points higher at 73,152.56, while the Nifty 50 gained 52.85 points, opening at 22,135.50. Market breadth showed 30 Nifty companies advancing, while 20 declined, reflecting cautious optimism among investors.
Trump said that the reciprocal tax will kick in on April 2. He said that the US has been ripped off for decades by nearly every country on earth and vowed not to "let that happen any longer."
Trump said, "Please explain to Governor Trudeau, of Canada, that when he puts on a Retaliatory Tariff on the U.S., our Reciprocal Tariff will immediately increase by a like amount!"
"We have a clear decision that we want good working relations with India on the basis of mutual respect and reciprocal interest. We have no ambiguity about this", Touhid Hossain told the reporters.
US President Donald Trump on Friday announced that he will soon impose reciprocal tariffs on countries like India and China, asserting that the United States will charge the same tariffs these nations impose on American goods.
Speaking at a press conference, Khera said "He was not invited to President Donald Trump's swearing-in ceremony, but he went there anyway. US President Donald Trump said he would impose reciprocal tariffs, but PM Modi was just smiling... PM Modi came from the US after hearing Trump's threat.
Demand for safe-haven asset gold is on the rise at a time when there's a lot of uncertainty surrounding the US trade policy because of the Trump administration's aggressive reciprocal tariffs.
Indian stock indices continued to remain volatile over concerns about Trump's tariff announcements and weak global cues. The benchmark indices opened in the red to later trade in the green. At closing, it closed marginally lower.
In a simulated scenario assessing the potential economic impact of a 20 per cent flat tariff on Indian exports to the United States, the State Bank of India report predicts a loss of 50 basis points (bps) to India's GDP.
US President Donald Trump outlined a new trade policy focused on fairness and reciprocity and said that the US would implement reciprocal tariffs, charging other countries the same tariffs they impose on American goods.