India-US Tariff Deal: Will it be 'MEGA' (MAGA+MIGA)?
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- India-US Tariff Deal: Will it be 'MEGA' (MAGA+MIGA)?
The return of the Trump-era after the US election has unnerved global market in as much as market is continuously trying to assess the future course of actions. Experts argue that behind such ‘tariff terrorism’ the fundamental objectives of Trump are- asset monetisation, lower crude prices, lower rates, weaker dollar, return of manufacturing to US are his core interests.
Mexican President Claudia Sheinbaum managed an extension of one-month on tariffs after agreeing to send 10,000 troops to the US–Mexico border to prevent the trafficking of fentanyl and other drugs. On the other hand, Canada’s oil exports to the US make it a key partner, that ships about 3.9 million barrels per day across the border, outpacing Mexico’s second-place 397,000 barrels. Canadian and Mexican imports account for roughly 25% of the crude oil processed in US refineries. Trump does not alter the 4th March’25 deadline yet for imposing the 25% tariff on both the countries.