Financial emergency? India shuts down rumors amid $60 billion loss
After the US slapped a 25% tariff on Indian imports, rumors spread that India had declared a financial emergency.
The government quickly shut these down, saying no such emergency exists—despite talk of a $60 billion market hit.
Officials urged everyone to trust only official updates.
Talks on to figure out impact on trade
India's leaders are meeting up to figure out how the new tariffs will affect trade, especially since the US is India's biggest export customer (18% of exports, worth over $80 billion in 2024).
They see this as pressure from the Trump administration but say they're sticking with negotiations for a fair deal.
Tariffs could shift demand and prices in India
The tariffs target big sectors like gems, auto parts—so prices and demand could shift.
Plus, things get trickier since these moves also impact India's Russian oil imports and add tension between the two countries.
For now, India says protecting its interests comes first while talks continue.
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