NIN Web Desk : Dr subhrojyoti chattopadhyay; Today, as Liberation Day (US Liberation Day), the US President (Donald Trump) will impose mutual tariffs on many countries of the world. As a result, Thursday’s market may have a big impact. So, What will be the impact from today? US President Donald Trump’s new tariff policy is set to begin today, April 2. Reciprocal tariffs could have a net impact of $3.1 billion on India’s exports to North American countries. CareAge Rating Report on Moneycontrol says this. Smita Rajpurkar from CareAge Ratings said Trump’s tariff policy would have a direct impact of only 0.1% ($3.1 billion) on India’s GDP. But there are bigger concerns about how they might affect overall market sentiment.
* What would be the rate of duty imposed on India?
Trump’s administration has introduced sectoral tariffs, including 25% tariffs on all steel and aluminum imports and 25% tariffs on automobiles and certain automobile parts. Other industries such as semiconductors and pharmaceuticals are also under consideration. The United States is India’s largest export destination, with total trade exports of $78 billion, accounting for 18 percent of outward trade.
* What is the tariff difference between India and America?
According to the report, India levies higher tariffs on US imports, the average tariff rate on India’s imports from America is around 11%. Whereas the US tariff rate on Indian imports is around 3%.
* How will it affect the stock market?
Stock markets showed recovery on Wednesday with the benchmark Sensex rising around 593 points on strong macro data and investor buying after a recent fall ahead of the US tariff announcement. The Price buying in auto, banking and IT stocks growth in India’s manufacturing sector bolstered the recovery in domestic stock markets, which rose to an eight-month high in March. The Sensex fell 1,390 points or 1.80 percent and the Nifty 353 points on Tuesday due to selling by FIIs ahead of the US tariff announcement on Wednesday.
* Which sector will be affected?
Among these Seafood will be the worst affected agricultural sector after this announcement. According to reports, shrimp sales could be affected as it already faces antidumping and countervailing duties in the US.
GTRI founder Ajay Srivastava said that the tariff announcement will affect exports of processed food, sugar and cocoa. Ghee, butter and milk powder could be “severely” affected by the 38.23% tariff differential, he added.
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