The Indian stock markets are showing resilience as compared to Asian peers. However, it opens in negative on Friday, the second day following the announcement of new tariffs by U.S. President Donald Trump.
US President Donald Trump's 27 pc tariff on gems and jewellery industry will cause a disruption in the industry as US is one of the major exporting destinations for India, says Industry experts.
Gulati also explained that the impact of these tariffs will not be the same for all agricultural products. The final outcome depends on various factors, including how the US sets tariffs on India and other competing countries.
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.
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."
US President Donald Trump said, "The markets are going to boom. The stock is going to boom. The country is going to boom -- and the rest of the world wants to see if there is any way they can make a deal. They (Countries) have taken advantage of us for many, many years."
In response to the US' decision to impose a 34 per cent tariff on imports from China, the country strongly criticised the move, calling it a violation of World Trade Organization (WTO) rules and a threat to the multilateral trading system.
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.
Politicians and human rights organizations have called on the European Union (EU) to suspend Pakistan's preferential tariff benefits for exports under the Generalized Scheme of Preferences Plus (GSP+) until the country takes concrete steps to address widespread human rights violations and
Congress MP Manish Tewari on Thursday urged the Centre to develop "a spine" and stand up to the US for its imposition of a 26 per cent tariffs on Indian goods with President Donald Trump launching a global trade war. He said that the US tariff on India represented "abject failure" of the n
Reacting to this, RK Aggarwal (National President, Bulk Drugs Manufacturers Association of India) said that it will have no impact on the pharma sector.