The sweeping reciprocal tariffs, varying from 10%-49%, rattled global stock markets amid concerns of a wider trade war. India has been hit by a 26% import duty.

US President Donald Trump has announced a sweeping set of reciprocal tariffs, claiming that foreign nations have "looted, pillaged, raped, and plundered" the American economy. Speaking on what he termed 'Liberation Day,

India views the USA's announcement of 26% reciprocal tariffs as a 'mixed bag' rather than a 'setback.' The imposition includes a universal 10% tariff on all imports starting April 5, with an additional 16% from April 10.