Trump announced: India's trade barriers are serious, starting from August 1st, the US will impose a 25% tariff on it

Additionally, India has purchased a large amount of military equipment and energy from Russia, and "everyone hopes Russia stops the killing in Ukraine," the US will take punitive measures

Indian government response: For months, they have been seriously negotiating, valuing the well-being of all domestic parties, and will take all necessary measures to safeguard their national interests

Reactions in India to "US +25% tariff"

Export Association: Very unfavorable for textile, shoe, and furniture companies, losing competitiveness, hoping the two countries can reach an agreement

Clothing Association: If implemented, it would be 7-10% more expensive than competitors, but given the experiences of other countries, panic is premature, and fortunately, trade negotiations with the UK and EU are proceeding smoothly

Jewelry Association: It will have a significant impact on us, 30% of our export business is in the US, which is our largest market, amounting to $10 billion annually

Electronics and Semiconductor Association: If a 25% tariff is imposed, we will completely lose competitiveness, but the actual collection of 25% should be temporary, and at the same time, we must develop other export markets, not too dependent

EY Consulting: The two countries are still actively negotiating, and a comprehensive agreement should be issued within August

Chamber of Commerce: The impact is short-term, and a long-term agreement will eventually be reached, as the two countries have a mutually beneficial relationship

Economist: Our prediction of 6.2% GDP growth is based on lower tariffs than 25%, so the economic outlook will be affected, and it is also crucial to know what the US's "punishment" really is

Bank: Financial markets will experience volatility, and the currency will face depreciation pressure, but the government will intervene

Original: https://www.toutiao.com/article/1839110888115210/

Statement: This article represents the views of the author