Indian stock markets, on Thursday, ended marginally lower on third consecutive trading session, impacted by hit in financial stocks, as international trade tensions weighed on investor sentiment.
The report highlighted that this tariff war could lead to slower growth and potential trade tensions. It noted that these tariffs may cause a notable decline in the real GDP of the US, especially if trading partners retaliate.
Trade restrictions planned by the incoming US President Donald Trump could lead to aggressive exports by China to other Asian markets, including India, according to a report by Crisil.
In a fresh escalation of trade tensions between the United States and China, Beijing on Thursday announced new export control measures targeting 28 US companies, the Voice of America reported.
After Donald Trump's decisive victory in the US presidential election, Chinese internet users expressed anticipation of heightened trade tensions between the US and China.
This statement came after the Chinese Ministry of Commerce's announcement that it was considering potential countermeasures due to Taiwan's failure to eliminate trade barriers affecting Chinese goods, Focus Taiwan reported.
This move escalates tensions with major trading partners, following a series of anti-subsidy and anti-dumping investigations into Chinese products by the European Union, including one initiated recently, and impending tariffs from Washington on Chinese new energy products.
Chinese President Xi Jinping has kicked off his six-day trip to Europe amid rising tensions over trade with the European Union and concerns over Beijing's support for Russia, as reported by Voice of America (VOA).
The development comes as companies have been intending to diversify their supply chains from China. Trade tensions between US and China have also sparked concerns among businesses.
Brussels [Belgium], July 20 (ANI): The European Union has raised concerns about the business environment in China, including the lack of a level playing field and the growing politicisation of business in the second largest economy in the world.
Beijing [China], July 19 (ANI): China and the European Union are set to hold high-level talks on the economy and trade amid tensions over human rights issues in Xinjiang and the war in Ukraine.