The Indian chemical industry is set to gain from the United States recent decision to impose strict tariffs on China, Canada, and Mexico, according to a report by Prabhudas Lilladher.
Explaining the modifications, Trump said, "During this interim period, between now and April 2nd, this makes it much more favourable for our American car manufacturers."
Union Finance and corporate Minister Nirmala Sitharaman on Thursday said that the impact of the US tariffs will be felt on India, adding that Union Minister Piyush Goyal is going to America and holding talks with the government there.
On the outset of trade wars with the United States, Beijing pledges to make domestic demand its main economic driver. The escalating trade war with the US is hitting Chinese exports, especially with the reciprocal tariffs that Trump has announced.
The tariffs that US President Donald Trump imposed on Chinese goods present a significant opportunity for India, if it does internal reforms to capture a share of what China loses in exports.
"The President has been very tough on China, not just now with 20 per cent and more with the reciprocal tariffs that will hit on April 2nd, but look at what he did in his first term. There were billions of dollars' worth of tariffs that he implemented on China, and it's quite telling that
"Justin Trudeau, of Canada, called me to ask what could be done about Tariffs. I told him that many people have died from Fentanyl that came through the Borders of Canada and Mexico, and nothing has convinced me that it has stopped. He said that it's gotten better, but I said, "That's not
Ajay Sahai, Director General and CEO of Federation of Indian Export Organisations (FIEO), said he sees US President Donald Trump's recurring statement against India- as a 'tariff king'- to be a negotiating posture.
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.