The U.S. President Trump announced reciprocal tariffs, starting with a minimum of 10% on all countries exporting to the U.S. Notable among these are a 20% tariff on the European Union, 24% on Japan, 26% for India, and an even higher rate for China. This may disrupt the global trade flows and slow down the economic growth of different countries. Due to this, the Nifty witnessed a gap-down opening of 160 points today. However, Trump spared the pharmaceutical sector of India, leading to a more than 4% bullish surge in the pharma index at the market's opening.
