Indian stock markets crashed after the tariff warnings from the US government came.
US President Donald Trump announced the launch of tariffs on the countries imposing duties on US goods. Indian stock markets have crashed and more than $180 billion in market value has been lost in over two days.
Approximately 87% of the stocks listed on the National Stock Exchange have seen declines. Trump administration imposed tariffs on China, Mexico, and Canada in the first round.
Indian Prime Minister Narendra Modi is visiting the USA and India recently reviewed the trade policies and slashed customs duties on a range of products after the US President Trump announced the reciprocal tariffs. Modi is expected to visit Washington on February 12 and 13th.
However, according to the statistics the trade deficit between the US and India has been widening, with the US importing $45.7 billion more from India than it exported there in 2024. And US imports from India accounted for about 2.7% of all imported goods last year.
The top 5 products the US imports from India are pearls, semi-precious stones, pharmaceutical products, Nuclear reactors and machinery, Mineral fuels and oils, and electrical equipment. India imports.
This post was last modified on 12 February 2025 3:23 am
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