Country Financial News

EY Chief Policy Advisor D K Srivastava said, «the maximum adverse impact on India's GDP growth will not be higher than 50 basis points. As per our earlier projection, the GDP growth estimate for current fiscal was 6.5 per cent, which may go down to 6 per cent without retaliation». Standard Chartered Bank Head — India, Economics Research, Anubhuti Sahay said an effective 20 per cent tariff increase on Indian exports to the US ( after considering the exempted goods) in our view is likely to adversely impact India's GDP by 35-40 bps, ceteris paribus. «However, the final impact would depend on the trade deal agreement between India and the US along with how each country negotiates/ retaliates on the proposed tariffs,» Sahay said. She said while a loss in India's GDP is inevitable on higher tariff rate imposition, India is likely to be relatively less impacted amongst the Asian economies as other countries have been hit by higher tariff rates than India or run a larger trade surplus with the US especially in the non-exempted sectors. According to EY's Srivastava, the US tariff hikes could have a favourable impact on the country's exchange rate as the dollar could come under pressure in the US with a likely rise in inflation.

Subscribe to enjoy similar stories. The United States Trade Representative (USTR) is a cabinet-rank official whose office is embedded in the Executive Office of the President of the US. The USTR on its website is described as “the president’s principal trade advisor, negotiator, and spokesperson on trade issues." Created by a legislative act in 1962, the USTR has historically proclaimed its alignment with the World Trade Organization (WTO) as a leveller of the global trade playing field.

April 2, 2025, was declared Liberation Day by President Donald Trump—a momentous occasion where he unveiled sweeping tariffs aimed at foreign nations. In his dramatic announcement from the White House, Trump proclaimed, “April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to 'Make America Wealthy Again.’”

Subscribe to enjoy similar stories. On 2 April, President Donald Trump didn’t just shock the world with his reciprocal tariffs announcement—he also upended 200 years of trade wisdom. Most of us take free trade and global supply chains as natural and necessary, but few realize these systems stem from the Law of Comparative Advantage, proposed by British political economist David Ricardo in 1817.

Subscribe to enjoy similar stories. US President Donald Trump announced sweeping reciprocal tariffs on its trading partners on 2 April, a move aimed at reducing the country’s dependency on foreign products amid its ballooning trade deficit. Trump announced a 26% tariff on imports from India, effective 9 April.

Subscribe to enjoy similar stories. New Delhi: The reciprocal tariffs imposed by US President Donald Trump will disrupt Indian exports in key sectors like engineering and electronic goods, potentially reshaping supply chains and cutting export revenue as businesses brace for the impact.

Subscribe to enjoy similar stories. NEW DELHI : Bangkok-headquartered Dusit International's founding family wants to make its second India innings India count with a flurry of new hotel signings. India is one of the most important markets for Thailand, the third-generation hotelier Siradej Donavanik, vice-president of development for global hotels, told Mint on Thursday.

European Council President Antonio Costa has called for a swift conclusion to trade agreements with key global partners, including India, in response to the recent tariff measures imposed by the United States. In a tweet posted on X on Thursday, Costa emphasised the urgency for Europe to deepen its trade ties beyond the U.S. to maintain global economic stability. «The trade tariffs imposed by the United States should urge Europe to reach free trade deals with other partners in the world,» Costa wrote. He expressed full support for the EU Commission in its trade negotiations with the U.S. and underscored the importance of trade in driving global prosperity. Costa's statement pointed to several crucial ongoing trade talks, noting, “Trade is a powerful engine of global prosperity. The EU will remain a staunch advocate for free and fair trade. We will engage with all our partners and continue to strengthen and expand our trade network. Now is the time to move forward with the agreements with #Mercosur, #Mexico and decisively advance in the negotiations with #India and other key partners."

Manishi Raychaudhuri, Veteran Investor, says India is somewhere in the middle of the pack. Headline tariffs show that some Southeast Asian countries have been slapped with much larger tariffs. So all this is playing out, and the market did not have a drastic fall post the tariff announcement. However, we should not lull ourselves into a sense of security, just going by what we are seeing today. Tariffs at the rate of 34% have been slapped on China, add 20% of historical tariff and that makes it 54%. It is 26% in India, 40% in Vietnam and when such tariffs are slapped, financial markets get into a panic mode. But that is not happening. It is a good morning for Asia this morning. Markets have recovered from the day's low. Are markets getting complacent or it is time to move on? Manishi Raychaudhuri: To some extent, there is the possibility of demand retrenchment across the world, but particularly in the United States, that situation has not yet been factored in. The initial reaction of the market despite this is what I call a nuclear trade, almost a ‘nuclear battle’ in a sense in the trade regime.

Here is what some governments said about what they would — and would not — do in response. EUROPEAN UNION European Commission President Ursula von der Leyen said the EU is finalising a package of measures in response to U.S. tariffs on steel and is «now preparing for further countermeasures to protect our interests and our businesses if negotiations fail». Trump targeted the EU with a 20% reciprocal tariff. CHINA

Donald Trump's reciprocal tariffs, drinks industry bodies said on Thursday. Trump's latest round of sweeping global and country-specific tariffs was set to hit everything from the popular negroni cocktail, based on Italy's Campari liqueur, to Guinness beer, made by the world's top spirits producer Diageo. He also introduced a 25% levy on all beer imports and added beer cans to existing aluminium tariffs, hitting labels, such as Mexican-made Corona and Dutch Heineken. Many categories of drinks, such as champagne or Scotch whisky, have to be made in specific countries or regions and cannot move production.

Sweet Karam Coffee (SKC) announced on Thursday that it has raised $8 million in Series A funding from Peak XV Partners and existing investor Fireside Ventures. Founded in 2015 by husband-wife duo Anand Bharadwaj and Nalini Parthiban, the Chennai-based Sweet Karam Coffee offers South Indian sweets, snacks, filter coffee, and everyday essentials. It claims these snacks are free of palm oil and preservatives. The company will use the fresh capital to fuel expansion through omnichannel distribution, accelerate new product development, and bolster its technology-driven supply chain capabilities.

PHD Chamber of Commerce and Industry (PHDCCI). The industry body attributed this limited impact to India’s growing domestic manufacturing strength and the government's strategic policies, particularly those under the "Aatmanirbhar Bharat" initiative. Hemant Jain, President of PHDCCI, highlighted that India's robust industrial competitiveness and supportive government policies, including the Production-Linked Incentive (PLI) schemes, Make in India, and Aatmanirbhar Bharat, will buffer the economy from the negative effects of the U.S. tariffs. Jain emphasised that while there would be a slight impact in the immediate term, the medium-term effects would likely be neutralized as the full impact of these policies is felt.

₹91,423 per 10 grams. As of 9.33 am, it was trading ₹600 or 0.66% higher at ₹91,328 on the MCX. The rally can be attributed to the risk off sentiment in the market following tariff announcements by US President Donald Trump's administration.

Subscribe to enjoy similar stories. The stock market was slumping after President Donald Trump made his tariff announcement. To state the obvious, it was worse than investors feared and now they need to figure out what it means for stocks over the rest of 2025.

Donald Trump on Wednesday described Prime Minister Narendra Modi as a «great friend» while announcing a 26% tariff on Indian imports. However, he said, «You're a friend of mine, but you're not treating us right.» Trump claimed that the move was a «discounted reciprocal tariff» aimed at countering India's high duties on American goods. Also Read: India to face 'discounted' 26% tariff from US; Trump slaps 34% on China «India, very, very tough. Very, very tough. The Prime Minister just left. He's a great friend of mine, but I said, 'You're a friend of mine, but you're not treating us right.' They charge us 52 per cent. You have to understand, we charge them almost nothing, for years and years and decades,» Trump said, holding a chart listing countries and their tariff rates. He argued that the US had long tolerated unfavourable trade terms and had only started imposing tariffs on China after he took office seven years ago. «It was only seven years ago, when I came in, we started with China and we took in hundreds of billions of dollars from China in tariffs,» he said. The announcement comes just weeks after Modi’s visit to Washington, D.C., in February, less than a month after Trump began his second term in the White House. Trade tensions between the two countries have been a longstanding issue, with Trump previously calling India the «tariff king» and a «big abuser» in global trade.

tariffs on India. When reached out to Lutnick regarding a query on the tariffs imposed by US President Donald Trump, he avoided the question and walked away. Trump announced new import tariffs on Wednesday (local time), outlining the rates to be imposed on countries around the world. India will face a 26 percent tariff. Calling Prime Minister Narendra Modi a «great friend,» Trump said that India charges the US 52 per cent, and «we charge them almost nothing.» ALSO READ: Govt analysing impact of 26% Trump tariff on India; it's mixed bag, not setback: Official Trump's announcement came while he addressed the Make America Wealthy Again Event.

As per India Cellular and Electronics Association (ICEA), India has emerged favourably placed in the first round of reciprocal tariff announcements, especially compared to key electronics export competitors like China, Vietnam, Thailand, and Indonesia following the extraordinary and relentless efforts by our negotiators and leaders. Read More:Trump's 26% tariffs put pressure on India. Is New Delhi ready for the impact?

Here is what some governments said about what they would — and would not — do in response. Read More:Trump's 26% tariffs put pressure on India. Is New Delhi ready for the impact? CHINA China's commerce ministry said Beijing «firmly opposes» the reciprocal tariffs and «will take countermeasures to safeguard its own rights and interests,» after Trump imposed a 34% reciprocal tariff on the country. JAPAN

Subscribe to enjoy similar stories. President Trump’s biggest tariff blitz yet sends a clear message to U.S. and foreign companies alike: The era of globalization is over.

reciprocal tariffs on trading partners, stoking concerns that a global trade war may dampen demand for crude. Brent futures fell $1.97, or 2.63%, to $72.98 a barrel by 0033 GMT. U.S. West Texas Intermediate crude futures were down $1.98, or 2.76%, to $69.73.