Effective August 7, the United States has officially implemented the 25% reciprocal tariff on goods from India, as previously announced by U.S. President Donald Trump. Trump celebrated the development through a post on Truth Social, saying billions of dollars are flowing into the US with the imposition of the reciprocal tariffs.
“IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!” Trump wrote. Hours later, the American President announced Apple’s $600 billion investment in the United States.
Reacting to US President Donald Trump’s decision to impose an additional 25 per cent tariff on Indian goods over New Delhi’s continued oil trade with Russia, Congress MP Shashi Tharoor said the move could severely impact India’s exports to the American market. “I don’t think that’s particularly good news for us, and that takes our total tariffs to 50 per cent. Then that’s going to make our goods unaffordable to a lot of people in America,” Tharoor told reporters.
Tariff War & Impact on Stock Markets
The BSE Sensex dropped 335.71 points to 80,208.28 in the opening session, while the NSE Nifty fell 114.15 points to 24,460.05.
The decline comes a day after Washington doubled tariffs on Indian goods to 50%, placing India among the highest-taxed US trading partners. The move has raised fears of a prolonged trade standoff and its potential impact on India’s export-dependent sectors.
Gift Nifty futures were trading at 24,586 points as of 7:05 am, hinting at a flat-to-negative start for the broader market, close to Wednesday’s closing level of 24,574.2.
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