Will US tariff also affect India’s economy? GDP may have so much decline – Goldman Sachs Says Us Tarifs May Affect India GDP Growth Rates Tutd
Donald Trump has announced a tariff on several sectors since assuming the post of US President. At the same time, he has also said that the same tariff will be imposed on the country that is leaks on America. That is, Trump has talked about installing reciprocal tarifs. He has also shown a similar stand on India so far.
Meanwhile, a report of Goldman Sax has come out, which states that Trump’s tariff may affect India’s GDP. The report analyzes the impact of tariffs on India. According to the report of Goldman Sachs, Trump’s tariff may affect India’s GDP (GDP) between 0.1 to 0.6.
The report further states, ‘India’s domestic activity risk for the final demand of America will be almost double (4.0 percent of GDP), as America has a rescue through exports and due to this possible domestic GDP growth impact 0.1 -0.6pp will be. ‘ If the Trump government options to increase tariffs on all American imports by average tariff difference between a particular country and the US, then the American tariff on India’s products will increase by 6.5 per cent.
The report estimates that the US tariff rate on India’s Employed may increase by 6.5-11.5 percent. Which depends on the mutual tariff scheme adopted.
India charges more tariffs than America
Significantly, India’s export to the US is currently about 2 percent of the GDP and the lowest compared to other emerging markets. India’s bilateral trade surplus with the US doubled in the last 10 years to become US $ 35 billion (1.0%of India’s GDP) in FY 24, mainly due to electronics, pharmaceutical products and clothing. India’s tariff rates are higher than the US on most products, with the highest agricultural products, textiles and pharmaceutical products.
Trump and Modi meet
Let us know that recently Trump and PM Modi met in the US, in which there was a deal to double the trade between the two countries by 2030, in which there was discussion about business in defense, green energy and other sectors. .
