Trump’s Tariffs Could Shave 0.5% Off GDP, India Adviser Says

US President Donald Trump’s 50% tariffs could reduce India’s gross domestic product by half a percent this year, the nation’s Chief Economic Adviser V. Anantha Nageswaran said.

“I hope the additional penal tariff is a short-lived phenomenon,” Nageswaran told Bloomberg TV’s Haslinda Amin in an interview on Monday. “Depending upon how long it lasts even in this financial year, it may translate into a GDP impact of somewhere between 0.5% to 0.6%,” he said.

However, if the tariff uncertainty extends into the next fiscal year, the impact will be “larger,” resulting into a major “risk” for ...