The latest set of U.S. tariffs, including a massive 104% levy on Chinese imports, take effect on Wednesday (April 9, 2025), leaving markets around the world worried about whether the tariffs would be permanent or U.S. President Donald Trump would bring them down with negotiations.
Analysts have warned that financial markets will experience more swings up and down, given the uncertainty over how long Mr. Trump will keep the stiff tariffs on imports. It is expected to cause a recession if they last a long time.
Trump’s reciprocal tariff: Here’s the full list of targeted countries
China said it will “fight to the end” and warned of countermeasures after Mr. Trump threatened on Monday to raise his tariffs even further on the world’s second-largest economy.
Mr. Trump, on April 2, had unveiled a raft of punishing tariffs targeting countries around the world, including some of its closest trading partners, in a move that risks sparking a global trade war.
(With inputs from agencies)
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- APRIL 09, 2025 22:43Difficult situation in various sectors due to Trump tariffs, but India will overcome it: Ajit Pawar
Maharashtra Deputy Chief Minister Ajit Pawar on Wednesday said a “difficult” situation prevails in various sectors due to US President Donald Trump’s retaliatory tariffs and expressed confidence that India would sail through it.
“Due to the retaliatory tariff policy of the US, a difficult situation in various sectors, including trade and exports, is prevailing. Those in the US who voted Trump to power are now discontent (against his policies),” said Pawar.
Pawar, who is also the State’s Finance Minister, said Trump does whatever he thinks is right, and his moves are now impacting other countries.
He added that a lot of exports take place from India to the U.S., and Trump’s tariff policy has impacted all the exporters in the country.
Pawar said that after the U.S. raised the tariff for China to 104%, the latter has also decided to increase it.
“This shows that the decision by Trump regarding tariffs has led to a sort of unstable situation in the world. This situation has impacted all countries, including India,” he said.
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