50% Tariff Explained, US-India Trade Dispute, Impact on Trade Deal & Deficit
President Donald Trump holds up a chart as he speaks about the economy in the Oval Office of the White House, Thursday, Aug. 7, 2025, in Washington. (AP Photo)Trump’s Tariff on India LIVE Updates: Amid increasing worries that United States President Donald Trump’s tariffs are damaging the economy, US stocks on Thursday drifted to a mixed finish as tariffs that came into effect on dozens of countries had only a muted effect on markets worldwide, as per the Associated Press. The S&P 500 slipped 0.1% after briefly climbing to the cusp of its all-time high during the morning. The Dow Jones Industrial Average dropped 224 points, or 0.5%, and the Nasdaq composite rose 0.3% to a record, the report said.
‘No charge if building in US’: Trump, in his announcement, also imposed a 100 per cent tariff on imported computer chips, however, he added “if you’re building in the United States of America, there’s no charge.” “Large, cash-rich companies that can afford to build in America will be the ones to benefit the most,” said Brian Jacobsen, chief econom at Annex Wealth Management. “It’s survival of the biggest.”Story continues below this ad
India’s response: New Delhi is not alarmed or unduly perturbed; rather the government seems to be prepared to wait it out for the next few weeks or more — dealing with Trump’s increasing frustration remaining calm after he doubled the tariffs on India on Thursday. Simultaneously, New Delhi took an unequivocal call that Trump cannot tell India not to trade with Russia or dance itself from BRICS. Hours before an earlier 25 per cent tariff on India was set to kick in on August 7, Trump signed an executive order imposing an additional 25%, taking the total duty to 50%, among the highest the US has imposed on any country.
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