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Thursday, Apr 10, 2025
US President Donald Trump announced a 90 day pause on his sweeping tariffs Wednesday, giving all countries a 10 percent baseline except China, which will see even higher levies.
On the sectoral front, auto, FMCG, and consumption were major gainers. IT, PSU Bank, pharma, metal, realty, infra and commodities were major laggards.
Additional US tariffs on Chinese imports are set to reach 104 percent on Wednesday.
Israeli Prime Minister Benjamin Netanyahu seeks to limit the sting of tariffs imposed on his country at a meeting with US President Donald Trump.
The announcement injected further turbulence into global financial markets, which have fallen steadily since Trump's announcement.
Trump said he had spoken to leaders from Europe and Asia over the weekend, who hope to convince him to lower tariffs as high as 50 per cent due to take effect this week.
The administration has warned that countries that do not swiftly take back their citizens will face consequences, including visa sanctions or tariffs.
Netanyahu's office said in a statement the prime minister, who is visiting Hungary, would depart for Washington on Sunday.
The protests in the US will give Trump opponents an opportunity to demonstrate their displeasure en masse.
Trump, who unveiled his barrage of import duties against dozens of countries on Wednesday, was unrepentant, posting that "my policies will never change."
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