MACQUARIE ON TARIFFS
US tariff blow worse than expected
26% blanket tariff applied across all Indian products could be highly negative
India is in the process of negotiating a bilateral agreement with the US
Pharma exports at $12.2 billion form almost 14% of total exports from India to the US
Automobile exports from India account for roughly 3% of total exports
Blanket 20%+ tariff could impact India's GDP by 50 basis points
US tariff blow worse than expected
26% blanket tariff applied across all Indian products could be highly negative
India is in the process of negotiating a bilateral agreement with the US
Pharma exports at $12.2 billion form almost 14% of total exports from India to the US
Automobile exports from India account for roughly 3% of total exports
Blanket 20%+ tariff could impact India's GDP by 50 basis points
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