Trump's reciprocal tariff announcement

Trump's reciprocal tariff announcement
#trump #reciprocaltariffs #tradewar

On April 2, 2025, U.S. President Donald Trump announced a series of new tariffs under the initiative dubbed "Liberation Day," aiming to address trade imbalances and protect domestic industries. A universal 10% tariff will be applied to all imports into the United States, effective April 5, 2025. Additionally, higher, country-specific tariffs have been imposed on certain nations, set to take effect on April 9, 2025.

India is among the countries affected, with a 26% tariff levied on its exports to the U.S. President Trump justified this rate by citing India's existing 52% tariffs on American goods, describing India as "very, very tough" in its trade practices.

The announcement has elicited varied reactions globally. While some countries have expressed strong opposition, India's response has been more measured. The Indian government stated that the tariffs are not a significant setback and emphasized ongoing bilateral trade talks with the U.S.

Financial markets have reacted to the news, with Indian shares experiencing modest declines. The Nifty 50 index dropped by 0.2%, and the BSE Sensex fell by 0.27%. Notably, Indian pharmaceutical stocks surged due to exemptions from the new tariffs, with the pharma index rising by 2.6%.

Economists and analysts have expressed concerns about the potential repercussions of these tariffs, including increased consumer prices, disruptions in global supply chains, and the possibility of escalating trade wars.

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