$23 Billion India News Could Change Things for Trump's Tariff Deadline
India suddenly looks ready to deal with Trump on tariffs, potentially paving the way for others.
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In today’s Daily Rundown video, we talked with you about the evolving Trump tariff landscape and why April 2 may not result in the tariff pain that was expected a few weeks ago.
Following up on our comment that the Indian government is meeting with White House officials early next week, we are reading that India is open to cutting tariffs on more than half of U.S. imports worth $23 billion. This would be part of the first phase in trade negotiations between the two countries. Part of the reason behind India’s move is indications that Trump’s reciprocal tariffs would hit about 87% of India’s $66 billion in exports to the U.S.
This is arguably a step in the right direction and one that could influence others — maybe not all, but some — to come to the table with Trump. We could still see tariffs announced next week, but this development with India suggests that the odds we could see a combination of tariffs and trade deals announced next week are improving.
We would still need to do the calculus for what tariffs are announced, but to the extent, they are smaller than expected — be it in size or scope — that could dial back concerns about inflation pressures and upcoming corporate guidance. Depending on what learn and what our analysis turns up, we’ll revisit the Portfolio’s inverse ETF positions as needed.
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At the time of publication, TheStreet Pro Portfolio was long PSQ and SH.
