Reserve Bank of India Governor Sanjay Malhotra stated on Wednesday that the increase in US tariffs is unlikely to significantly affect the Indian economy unless retaliatory tariffs are imposed. During a press conference following the monetary policy announcement, the RBI Governor remarked, “The ongoing uncertainty regarding US tariffs may not have a substantial impact on...
US President Donald Trump on Wednesday announced that India will face a 25% tariff along with an additional penalty starting August 1, 2025. The decision comes as part of Trump’s efforts to address what he described as India’s high tariffs, trade barriers, and continued purchases of oil and military equipment from Russia amid the Ukraine...
The US administration has confirmed that the August 1 deadline for imposing reciprocal tariffs remains unchanged, ruling out any possibility of an extension. Speaking on Fox News Sunday, US Commerce Secretary Howard Lutnick stated, “No extensions, no more grace periods. August 1, the tariffs are set. They’ll go into place. Customs will start collecting the...