President Trump criticizes India’s tariff system, announcing reciprocal tariffs starting April 2. China sets its GDP target at around 5%, while stock markets report significant gains. Oil prices drop due to OPEC+ output increase amidst trade tensions. Coforge and Adani Wilmar announce significant corporate developments.
On March 5, 2025, U.S. President Donald Trump criticized what he termed the “unfair systems” implemented by various countries, including India, the European Union, and China. He underscored his belief that these nations had imposed tariffs on America for decades, asserting that it was time for the U.S. to reciprocate. Trump specifically highlighted India’s 100% auto tariffs, stating, “the system is not fair to the U.S., it never was…on April 2, reciprocal tariffs kick in and whatever they tariff us, other countries, we will tariff them…whatever they tax us, we will tax them.”
In other business news, China announced its GDP target of approximately 5% for 2025, alongside a fiscal deficit goal of about 4% of its GDP, marking the highest level in over thirty years. This report indicated that officials might increase economic stimulus measures in light of ongoing U.S. trade tensions. Additionally, the Sensex rose over 500 points, reflecting positive market sentiment, while Nifty surged past the 38,000 mark.
Oil prices experienced a decline due to OPEC+’s planned increase in production, compounded by the effects of recent U.S. tariffs impacting Canada, Mexico, and China. Furthermore, in corporate developments, Coforge announced a stock split, dividing its shares, which saw an initial increase in its stock value. Adani Wilmar also disclosed an agreement to acquire GD Foods, owner of the popular ‘Tops’ brand, for Rs 603 crore.
In summary, President Trump’s declaration of reciprocal tariffs highlights ongoing tensions in international trade relations, particularly with India and China. The economic landscape is further influenced by China’s GDP projections, stock market fluctuations, and corporate acquisition news, all underscoring the dynamic nature of global business in 2025.
Original Source: www.moneycontrol.com
