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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country. Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because Donald Trump’s statement regarding imposing tariffs on India and penalizing them for their trade relations with Russia could lead to increased volatility in the stock market. The Energy Select Sector SPDR Fund might experience fluctuations due to potential shifts in energy trade dynamics, while the iShares MSCI China ETF could be affected by changes in geopolitical relations and trade policies. The iShares U.S. Aerospace & Defense ETF and iShares MSCI India ETF might see impacts from potential changes in defense procurement and economic relations between the U.S. and India.
Here are some of the stocks that might be affected:
Energy Select Sector SPDR Fund ((XLE)),
iShares MSCI China ETF ((MCHI)),
iShares U.S. Aerospace & Defense ETF ((ITA)),
iShares MSCI India ETF ((INDA)).