Trump tariff tidal wave hits markets: Why India may dodge the trade bullet
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Donald Trump’s tariff blitz has sent global markets into a tailspin, but India could emerge as an unlikely survivor. While China’s Hang Seng fell 1.5%, Japan’s Nikkei slid nearly 3%, and Nasdaq futures slumped over 3%, India’s Sensex and Nifty barely flinched—ended the day just about 0.4% weaker. The reason? India now faces a 27% tariff—higher than expected but still lower than the crushing 54% levied on China (20% existing + 34% newly imposed). Vietnam, Bangladesh, and Thailand also took bigger hits, keeping India in a relatively stronger position. Moreover, sectors like pharmaceuticals, semiconductors, copper, lumber, gold, energy, and minerals have escaped the tariff dragnet, at least for now. Venugopal Garre of Bernstein emphasized that, while the headline number looks high, India’s key strengths remain intact. “At first glance, the 26% tariffs imposed on India seem rather high, higher than what India levies on most U.S. items. Howeve...