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The World Reacts to Trump’s Aug. 1 Tariff War

INDIA, AUG 1 – Tariffs range from 10% to 50% targeting 69 countries to reduce US trade deficits and encourage domestic manufacturing, officials said.

  • On August 1, President Donald Trump formalized new tariffs via executive order, imposing 25% on India, 20% on Taiwan, and 40-41% on Syria and Myanmar, all without trade agreements.
  • A senior US administration official said nations were sorted into three tiers—10%, roughly 15%, or higher—based on trade imbalances, as Trump’s tariffs aim to address deficits.
  • The executive order covers 69 countries with tariffs from 10% to 50% and imposes a 40% duty on goods rerouted through third countries.
  • Early trading showed modest declines as the Nifty 50 fell 41 and the BSE Sensex dropped 41, indicating Asian investors were unsurprised.
  • Looking ahead, China must finalise a durable tariff pact by August 12, and Indian Commerce Minister Piyush Goel told Parliament the goal is a trade agreement by October-November this year.
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The decision of the American president to introduce such a high tariff has caused an economic and diplomatic earthquake in New Delhi. The measure includes sanctions related to India's relations with Russia and its membership in the BRICS group. While the opposition speaks of diplomatic failure, the Modi government will also negotiate a fair agreement in August, but the US aggression pushes Delhi to assess a tactical rapprochement with China, whi…

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Lietuvos Radijas ir Televizija broke the news in Vilnius, Lithuania on Thursday, July 31, 2025.
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