Trump's New Tariffs Shake Global Markets; Indian Rupee Hits Record Low

President Donald Trump's recent imposition of a 25% tariff on steel and aluminum imports has intensified global trade tensions. Major exporters to the U.S., including Canada, Brazil, South Korea, and Mexico, are expected to face significant economic challenges due to reduced export competitiveness. In response to these developments, the Indian rupee has depreciated to a record low of 87.95 against the U.S. dollar. Factors contributing to this decline include concerns over escalating trade tariffs and persistent foreign investor outflows from Indian markets. The Reserve Bank of India has intervened to stabilize the currency, but ongoing global uncertainties continue to exert downward pressure. 

 

Source: Reuters