Marc Chandler, chief market strategist at Bannockburn Capital Market, mentioned placing a tariff on Indian items coming into the USA is a bit important.
He doesn’t count on India to cease buying and selling with Russia for both oil or weapons. “I feel that the price goes to be borne by the US each within the quick run as a tax on customers and in addition within the longer run as US seeks to construct an alliance towards China… India was a key participant in that,” he added.
Chief Market Economist Peter Cardillo held that Trump wouldn’t count on India to utterly cease shopping for Russian oil however slightly thinks India “has to achieve a contented medium and that pleased medium shall be negotiated”.
He expects tariffs to go down considerably to 10-15%. Nonetheless, he added that tariffs on prescribed drugs are going to be one other main blow to India within the coming week or so.
“I do not suppose, in the long term, US needs a really disrupted commerce relation with India since it’s a very huge market,” Santosh Rao, head of analysis at Manhattan Ventures, mentioned.
Whereas he mentioned that there shall be a short-term response felt within the Indian market as properly. He suggested to attend and watch over the 21 days cooling off interval.
Former Overseas Secretary Shashank was of the view that these points could also be resolved as soon as the struggle in Russia and Ukraine is over.