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.
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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