💨 Abstract

The U.S. has begun imposing higher taxes on imports from over 60 countries and the EU, with rates ranging from 10% to 20%. The Trump administration aims to revive U.S. manufacturing through these tariffs. However, economic data shows initial negative impacts, such as a 37% profit drop for Toyota. Indian exporters and Prime Minister Modi have expressed concerns, with Modi emphasizing the protection of Indian farmers.

Courtesy: WTOP Staff