Browsing: Trump Tariffs

U.S. President Donald Trump announced a 90-day pause on tariffs for non-retaliating countries like India, with a reduced 10% rate, while simultaneously raising tariffs on Chinese imports to 125%. Global markets surged in response, with the Dow, Nasdaq, and S&P 500 posting major gains. Gold prices rose 3.7% globally, and India, as a non-retaliating nation, stands to benefit both strategically and economically.

Indian gem & jewellery industry, like the rest of the world, is trying to analyse the evolving global economic landscape due to the reciprocal tariff announcement by USA on countries worldwide. The Gem & Jewellery Export Promotion Council (GJEPC) though understands the U.S. administration’s intent to address trade and tariff imbalances through reciprocal tariffs, however urges the U.S. to uphold the spirit of the longstanding trade partnership between India and the United States, which has been built on mutual respect and shared economic interests

On April 3, 2025, U.S. President Donald Trump introduced a bold set of reciprocal tariffs during his “Liberation Day” rally. Under this new trade policy, a flat 10% tariff will be imposed on all imports, with additional tariffs varying based on how much each country levies on U.S. goods. This move aims to address trade imbalances and promote fairness in global commerce