U.S. President Donald Trump has called attention to the unfair tax systems of countries like India, announcing reciprocal tariffs to take effect on April 2. China has set a modest GDP target amid U.S. tariffs, while stock markets in India are showing positive trends. Other business updates include a stock split by Coforge and Adani Wilmar’s acquisition of GD Foods.
During a recent broadcast, U.S. President Donald Trump spotlighted what he termed the “unfair systems” employed by various nations, notably India, the European Union, and China. He underscored his position that the United States has long been subjected to tariff impositions from these countries and stated that it was now time for America’s reciprocation.
Singling out India, Trump commented on the 100% tariffs imposed on American automobiles, declaring the trading system inequitable and detrimental to U.S. interests. He announced that effective April 2, reciprocal tariffs will be enacted, indicating a unified tit-for-tat approach to tariffs with the nations that impose similar levies on American goods.
In related economic news, China has set its GDP growth target for 2025 at approximately 5%, prompting expectations for potential fiscal stimulus amid ongoing trade disputes with the U.S. Furthermore, the Indian stock market reported a significant rally, with the Sensex soaring over 500 points and Nifty climbing by 2%.
Oil prices experienced a decline, impacted by anticipated output increases from OPEC+ and additional tariffs from the U.S. on Canada, Mexico, and China. Meanwhile, equity activity saw notable movements with Coforge announcing a stock split, boosting its share price by over six percent.
Additionally, Adani Wilmar confirmed its intent to buy GD Foods, the parent company of the popular food brand Tops, for an estimated value of Rs 603 crore, detailing a phased acquisition process over the next few years.
In summary, President Trump’s declaration of reciprocal tariffs against nations like India marks a significant shift in U.S. trade policy that emphasizes fairness in international trade. As other nations adapt to these announcements, the economic landscape, influenced by various tariffs and corporate actions such as Adani Wilmar’s acquisition, suggests evolving dynamics in global commerce.
Original Source: www.moneycontrol.com
