Brief by Shorts91 Newsdesk / 12:26pm on 02 Feb 2025,Sunday International
US President Donald Trump imposed tariffs of 25% on Mexico and Canada, and 10% on China but excluded India, citing its lower trade deficit contribution of 3.2%. Trump justified the move, blaming Mexico and Canada for enabling fentanyl inflows and highlighting high trade deficits. Experts predict the tariffs could reduce US GDP by $55 billion and cause economic strain in China. India’s import tariff policies remain WTO-compliant, balancing domestic priorities. Analysts suggest Trump's trade policies could benefit India through trade diversions, enhancing economic opportunities. The tariffs took effect on February 1.
