In Doha, Donald Trump claimed India has agreed to zero reciprocal tariffs with the US & advised the CEO not to build iPhones in the subcontinent & that the country could 'take care of itself'.
The flip-flops on Trump’s tariff policy have led to a wave of dollar-selling. Stronger Asian currencies & weaker dollar will help address US’ trade imbalances with Asia.
With the US effectively shutting its doors, the fear is that a cornered China will dump even more aggressively and flood other markets. India must brace for impact.
International media also narrows in on role US could play in mediating the situation, highlighting that it could leverage a $397mn exemption in foreign aid cuts to Pakistan this year.
Trump’s threats ignited a wave of patriotism that swelled support for Liberal Prime Minister Mark Carney, a political newcomer who previously led two G7 central banks.
The growth projections for the US seem to be at odds with rising probability of recession put out by various agencies. Tariffs may weigh on US & China the most.
Trump has expressed optimism about reaching a tariff agreement ‘pretty quickly’, while Xi said that tariff & trade wars undermine the legitimate rights and interests of all countries.
In Jaipur, Vance rejected claims Trump sought to start a global trade war, characterising the tariffs announced earlier this month as an effort to 'rebalance' global trade.
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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