Brief by Shorts91 Newsdesk / 05:08am on 07 Apr 2025,Monday India Global
India will likely avoid retaliating against US President Donald Trump’s 26% tariffs, according to officials, citing ongoing trade talks between the two nations. A clause in Trump’s tariff order allows exemptions for countries working to fix trade imbalances. India, already negotiating a trade deal since PM Modi’s February US visit, sees itself in a stronger position than nations like China or Vietnam. India may slash duties on $23 billion in US imports. However, economists warn the tariffs could slow India’s GDP by 20-40 basis points and hit diamond exports hard, risking thousands of jobs and broader economic damage. (PC: Reuters)
