Brief by Shorts91 Newsdesk / 04:23am on 01 Aug 2025,Friday Business
U.S. President Donald Trump issued a sweeping executive order on July 31, imposing “reciprocal tariffs” ranging from 10% to 41% on nearly 70 countries—effective August 7, 2025 . India is hit with a 25% tariff, along with unspecified additional penalties tied to its defense and energy ties with Russia . In contrast, Pakistan’s tariff rate was sharply reduced to 19%, down from a previously proposed 29% . The announcement rattled markets, triggering declines in Asian equities and a dip in the rupee, while opposition parties in India criticized the Modi government for diplomatic mismanagement. Analysts warn the tariffs could fuel inflation and disrupt global trade, as Delhi now reevaluates its strategic autonomy amid rising economic and geopolitical friction with Washington. (PC: Reuters)
