Trump Tariffs: India Makes Big Concession As 90 Day Tariff Pause Deadline Looms
The US Trade war is taking a new positive twist for the United States as many countries are now responding positively to President Donald Trump’s tariffs. As the 90-day deadline established by the President is approaching, countries like India and Malaysia have proposed a big tariff figure in hopes that President Trump will rescind his tough stance on trade.
India’s Big Concession on Trump Tariff
India and the US are currently negotiating, with the Asian giant proposing a zero-for-zero tariff on essential goods. Among the listed goods are pharmaceuticals, auto parts, and steel. According to a report from Bloomberg, this zero tariff is based on whether or not the US reciprocates the gesture. Trading volume is also a major factor that the Indian delegates placed on the table.
President Trump announced the 90-day pause on tariffs on April 9, putting the end date at July 8, 2025. While the time may be far, macroeconomic negotiations generally take a long time, and countries are taking the initiative beforehand.
Beyond India, Malaysia has also pushed for a zero tariff with the United States. While it remains hopeful that a favorable deal will be reached, the nation has tempered its growth forecast, drawing on the strain the trade uncertainty now has on its economy.
Almost every country is working out a deal with the US camp to normalize the current market outlook.
US Trade War: Impact on Global Market
Barely a quarter into the trade fiasco, global stock markets have tanked considerably. Amid the broader uncertainty in the Trump tariff negotiations, which weighed down on the market again, major stock indices have plummeted considerably.
As of this writing, the S&P 500 Index is down 0.29% to 5,670.41. The Nasdaq Composite also dropped 0.42% to 17,901.96, and the Dow Jones Industrial Average shed 14.71 points to 41,302.72.
Risk-averse investors are also not convinced of the market’s direction. The price of Bitcoin showcased this, down by 1.21% in 24 hours to $94,441.46. With Trump signaling a lower tariff on China, the broader market expectation is raised.
China is the primary yardstick determining whether or not there is progress in the trade war with the US. With both countries earlier raising tariffs in an unhealthy reciprocal manner, the impact on global inflation remained a major concern.
Notably, China has waived tariffs on Ethane products from the US, making a grand gesture that can trigger a major shift in stance by both countries. Overall, market experts are watching where the ongoing negotiations will lead to.
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