This tariff relief comes after a major global sell-off that rattled financial markets. Though some tariffs, like those on steel, aluminium, and autos, remain, the pause gives countries like India a chance to stabilise trade talks. India is currently negotiating a bilateral trade agreement with the US.
Experts believe this move is more tactical than permanent but welcome the relief, which helps businesses adjust supply chains and gives governments time to explore longer-term trade solutions.
Adding to the positive sentiment, Goldman Sachs has rolled back its US recession forecast, citing the pause in tariffs as a stabilising factor. Global markets responded strongly: the S&P 500 saw its biggest single-day jump since 2008, and the Nasdaq had its second-largest gain ever. Asian and European markets also rallied.
GIFT Nifty was trading over 700 points higher on Thursday, pointing to a gap-up opening on Friday. Investors will also keep an eye on TCS’s quarterly results and remain cautious due to high market volatility.
