US President Donald Trump’s semiconductor tariff announcement is poised to shake global trade once again. On August 5, Trump stated that new tariffs on semiconductors and pharmaceutical products could be rolled out within a week. As global markets brace for impact, India's auto sector, heavily reliant on imported chips, could face significant ripple effects.
India is staring down a potential economic setback as the India GDP impact from US tariffs becomes a pressing concern. With President Donald Trump announcing a steep 50% tariff hike on Indian goods in retaliation for India’s continued purchase of Russian oil.
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