In short:
1. Trump’s tariffs are shaking global trade
2. India’s timely mini deal is a big relief for exporters
3. Consumers worldwide could soon face higher prices
4. Global growth may slow if this continues
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Posted On:08 Jul 2025
How is India faring?
Trump threatened India with 26-27% tariffs on its exports starting July 9, later extended to August 1.
So, India & the US have raced to secure a “goods-only” mini deal
Posted On:08 Jul 2025
JP Morgan Research warns:
A 10% base tariff + high China tariffs could cut 1% off global GDP
Even if China tariffs are reduced to 60%, the world loses 0.7% GDP
Posted On:08 Jul 2025
India’s Growth Push from this Deal
A broad trade deal with the US could double Indian exports to the US over the next decade and lift India’s GDP by 0.6%
India sends 19.3% of its goods exports to the US — its largest export destination
Including services, total exports could
Posted On:08 Jul 2025
What’s in the India-US mini deal?
🇮🇳India agrees:
To lower tariffs on select US industrial & agri goods (almonds, natural gas, defence)
To import more US natural gas
But keeps protecting wheat, dairy, rice to safeguard farmers
Posted On:08 Jul 2025
What does it mean for the world?
Tariffs this high will likely:
⚠️Increase prices for US consumers
⚠️Slow down global economic growth
Already, the World Bank has cut 2025’s growth forecast from 2.8% to 2.3%
OECD cut from 3.3% to 2.9%
Posted On:08 Jul 2025
But why these countries?
Trump says these Asian nations have “unfair trade deficits”
In simple terms, they sell way more to the US than they buy from it
But many experts believe this is really about pressuring China indirectly by hitting its supply chain allies
Posted On:08 Jul 2025
What about countries who’ve managed a deal?
✅UK: Signed a deal with a 10% tariff on most goods, zero on steel and aluminium
✅Vietnam: Signed a deal at 20% tariffs on most exports
🇨🇳China: From 145% down to 30% in a truce, while US exports to China face just 10% tariffs now
Posted On:08 Jul 2025
🇺🇸US gains:
Moves to cut its $41.2B trade deficit with India
For India, this deal:
Saves it from a crippling 26% tariff on $78B exports (pharma, textiles, auto parts)
Supports its Mission-500 to grow bilateral trade to $500B by 2030
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