Trump Tariffs News Live: Indian textiles, jewellery at risk of 50% Trump tariffs; pharma, phones exempt
Tariff turmoil deepens: ‘US will also suffer,’ says SBI Report, urges Centre to ‘keep pride intact’
Amid the tariff-induced volatility in the financial world, a latest SBI report has painted a grim picture for the US.
The SBI Research Report, which was released on Friday, said that while the major economies, including India, will see some impact of the steep levies, the US won’t go unscathed either. While talking about the tariffs on pharmaceuticals, the SBI report said that while “India may be hit… but the US will also suffer.”
The report stated, “~40% of India’s pharma exports go to the USA (FY25), India’s share in the US’s total pharma imports is 6% (in 2024). This indicates that a possible tariff of 50% on pharma exports may hit earnings of pharma companies by 5%-10% in FY26, as many big pharma companies’ revenue from the US stood in the range of 40-50 percent.”
Source: www.moneycontrol.com