U.S. President Donald Trump condemned India’s tariff practices, stating reciprocal tariffs would commence on April 2. China aims for a GDP growth target of 5% despite U.S. trade tensions. India’s stock markets showed positive trends, while oil prices declined due to OPEC+ output plans and tariffs. Coforge announced a stock split and Adani Wilmar plans to acquire GD Foods for Rs 603 crore.
In a recent statement, U.S. President Donald Trump criticized India and other countries such as the European Union and China for their ‘unfair systems’ regarding tariffs. Trump emphasized that for many years these nations imposed tariffs against the United States, and now it is time for America to respond with reciprocal tariffs starting April 2. He specifically highlighted that India imposes a 100% tariff on U.S. automobiles, declaring this practice unjust towards American interests.
Meanwhile, China has set a GDP growth target of around 5% for 2025 despite the ongoing trade tensions with the United States. As part of their strategic response, the Chinese government plans to initiate stimulus measures amid a rising fiscal deficit projected at approximately 4% of GDP, the largest in over thirty years.
In the stock market, major indices like the Sensex and Nifty have reported positive movements, with Sensex rising over 500 points and Nifty gaining over 2%. This uptick indicates a robust response from investors amidst the current economic climate.
Shifting focus to oil prices, recent reports indicate a decline attributed to anticipated output increases from OPEC+ and the imposition of U.S. tariffs on nations including Canada, Mexico, and China. These developments are contributing to downward pressure on oil market prices.
Moreover, Indian company Coforge has announced a stock split where each Rs 10 equity share will be divided into five shares of Rs 2 each, pending shareholder approval. Following this news, Coforge’s shares experienced a surge of over six percent in early trading.
In an acquisition update, Adani Wilmar is set to acquire GD Foods, the owner of the FMCG brand ‘Tops’, for an enterprise value of Rs 603 crore. This acquisition will take place in phases, with the first phase involving 80% of shares, while the remaining will be acquired over the next three years.
In conclusion, the latest tariff updates indicate a significant escalation in U.S.-India trade relations, with Trump highlighting India’s 100% auto tariffs. Concurrently, China’s modest GDP growth target reflects its strategic adaptation to trade wars. Furthermore, stock markets and other business activities demonstrate resilience amidst these challenges, showcasing diverse economic landscapes.
Original Source: www.moneycontrol.com
