The United States President, Donald J Trump, has announced a partial reprieve (a chunk of the additional ones, actually) from his reciprocal tariff imposition till July 9, 2025. India, which had been hit with a 26 per cent reciprocal tariff effective from April 9, has caught a temporary breather. But analysts warn — now is not the time for aluminium producers to let their guard down.
The announcement to reprieve India and others from reciprocal tariff
In a post on Truth Social, Trump declared, “Based on the fact that more than 75 countries have called representatives of the US to negotiate a solution and that these countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorised a 90-day pause, and a substantially lowered reciprocal tariff during this period, of 10 per cent, also effective immediately.”
Supporting reasons for such a sudden decision
Trump’s sweeping global tariffs sent shockwaves through stock markets across the globe, with the S&P 500 on Wednesday teetering dangerously close to bear market territory.
Unfazed by the market plunge, Trump had stood firm, asserting that tariffs would rake in “billions of dollars” and accusing other nations of taking advantage of the United States through unfair trade policies.
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