31-August-2025
Economy News
 
'US GDP may drop by $108 bn annually': CA says Trump's tariffs on India will backfire on American consumers
08-Aug-2025

US President Donald Trump recently announced an additional 25 per cent tariffs on Indian imports, citing New Delhi's continued purchase of Russian oil. CA Nitin Kaushik said in his social media post that instead of impacting India, Trump's move is going to backfire on American consumers. In a post on X (formerly Twitter), Kaushik explained that Trump's tariff threat is not a power play, but it is a panic move.

News Source:- https://www.businesstoday.in/india/story/us-gdp-may-drop-by-108-bn-annually-ca-says-trumps-tariffs-on-india-will-backfire-on-american-consumers-488459-2025-08-08