A mixed bag? Donald Trump unleashes tariffs on India and the world: Here's what you need to know

US President Donald Trump has finally unveiled the much-awaited list of tariffs, with a blanket tariff of 10% on all imports to the United States, effective April 5, followed by a further 16% tariff from April 10. India has been hit with a blanket tariff of 26%, which is half of the 52% tariff that the US alleges India levies on American products. This action has been interpreted as a US retaliation, but some analysts feel that these tariffs may be entirely averted.

A mixed bag for India

Whereas the imposition of tariffs is cause for concern to India, major industries have dodged the hit of the tariff war. Such industries are pharmaceuticals, the semiconductor business, copper, wood, and minerals. Experts are looking at these tariffs with a sense of optimism, terming it as a 'mixed bag'.

India's response

The Indian government is keeping a close eye on the situation, and the commerce ministry is mulling over possible responses. Other countries and US trade partners have also committed to respond proportionately to these measures.