Trump To Level Playing Field With Reciprocal Taxes On Other Countries
2 weeks ago
Indian shares logged their biggest one-day drop in a month on Tuesday as concerns regarding U.S. reciprocal tariffs dragged the heavyweight information technology and financial indexes.
The NSE Nifty 50 fell 1.5% to 23,165.7, while the BSE Sensex lost 1.8% to 76,024.51, in their steepest drop since February 28. The market was closed on Monday for a local holiday.
U.S. President Donald Trump said on Sunday that reciprocal tariffs slated for April 2 will include all countries. The U.S. also flagged concerns over India's increasing and burdensome import-quality requirements, among its many barriers to trade.
"Global trade remains volatile with U.S. tariff war reshaping economic dynamics," said Manish Goel, founder and managing director of Equentis Wealth Advisory.
However, the overall outcome may not be as challenging as feared, Goel said.
Reuters reported India was open to cutting tariffs on more than half of U.S. imports worth $23 billion, the biggest cut in years.
The NSE Nifty 50 fell 1.5% to 23,165.7, while the BSE Sensex lost 1.8% to 76,024.51, in their steepest drop since February 28. The market was closed on Monday for a local holiday.
U.S. President Donald Trump said on Sunday that reciprocal tariffs slated for April 2 will include all countries. The U.S. also flagged concerns over India's increasing and burdensome import-quality requirements, among its many barriers to trade.
"Global trade remains volatile with U.S. tariff war reshaping economic dynamics," said Manish Goel, founder and managing director of Equentis Wealth Advisory.
However, the overall outcome may not be as challenging as feared, Goel said.
Reuters reported India was open to cutting tariffs on more than half of U.S. imports worth $23 billion, the biggest cut in years.
