All 16 major sectors logged losses, with the Nifty 50 falling to 24,703.1 points. After announcing the tariffs, Trump said US is still negotiating with India on trade.
Win-win negotiations are always about give and take, a deft combination of assertion and acquiescence. A mutually acceptable trade deal would do a lot of good to both countries.
Trump’s tariff move comes just two days before the 1 August US deadline, dashing hopes of an interim India-US trade deal that could’ve helped avert higher tariffs.
China faces a 12 Aug deadline to seal a lasting tariff deal with Trump, after earlier pacts in May and June paused weeks of tit-for-tat tariffs and a rare earths export threat.
According to the US president, the deal involves $550 Bn in Japanese investments and expanded market access for American cars, rice, and other agricultural goods.
The President said US is working on a deal that will give it access to Indian markets. He announced a new trade deal with Indonesia, after which the latter will face a reduced tariff of 19%.
The US President says Indonesia has agreed to buy $15 billion in American energy, $4.5 billion in farm products, and 50 Boeing jets, though no time frame was specified.
Islamabad-based think-tank PICSS's new report says Pakistan saw 'pronounced escalation' in violence last year, with 3,413 conflict-related deaths compared to 1,950 in previous year.
UK, EFTA already in the bag and EU on the way, almost every member of RCEP except China signed up, and even restrictions on China being lifted, India has changed its mind on trade.
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