U.S. President Donald Trump criticized India’s and other countries’ tax systems, announcing reciprocal tariffs to start on April 2. China’s GDP growth target for 2025 is set at 5%, amid U.S. tariffs. The Sensex and Nifty stock prices increased, while oil prices fell. Coforge announced a stock split, and Adani Wilmar confirmed the acquisition of GD Foods.
Live updates on tariff news indicate that U.S. President Donald Trump has criticized the perceived ‘unfair tax systems’ of India, the European Union, and China. He emphasized his view that these countries have levied tariffs against the United States for many years, and it is time for the U.S. to respond accordingly. Trump announced that starting April 2, reciprocal tariffs would be implemented, stating that whatever tariffs foreign nations impose on the U.S., the U.S. will reciprocate.
In additional business news, China has set its 2025 GDP growth target at approximately 5%, amidst ongoing trade tensions with the United States. This decision comes as expectations grow for the Chinese government to introduce further economic stimulus to support recovery from the ongoing trade war.
The stock market is also reacting positively today, with the Sensex rising significantly over 500 points, reaching 73,497, while Nifty experienced a gain of over 2%, climbing to 38,096. These developments indicate robust market performance in early trading.
Moreover, oil prices have experienced a downturn due to OPEC+’s announcement for increased output starting in April, coupled with U.S. tariffs affecting Canada, Mexico, and China, which have contributed to further price declines.
Similarly, Coforge has announced a stock split, whereby each Rs 10 equity share will be divided into five shares of Rs 2 each pending shareholder approval. The stock split has spurred an initial rise in the company’s shares by over six percent as trading commenced.
Lastly, Adani Wilmar has made a strategic move by agreeing to acquire GD Foods, known for its ‘Tops’ brand. The acquisition will occur in stages, with 80% of the shares to be purchased in the initial phase and the remaining over the subsequent three years.
In summary, President Trump’s announcement regarding reciprocal tariffs marks a significant change in U.S. trade policy towards India and other nations. Meanwhile, economic indicators in China and stock market performance suggest a dynamic response to international trade challenges. The developments in oil prices and corporate acquisitions highlight the ongoing adjustments businesses are making in a complex economic landscape.
Original Source: www.moneycontrol.com
