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UBS On-Air: Paul Donovan Daily Audio 'Cutting tariffs'
Published 1 month, 3 weeks ago
Description
US President Trump?s social media post suggests a deal has been done with India to reduce the tariffs paid by US importers (from 35% to 18%, with special tariffs relating to Russian oil purchases set to zero). The move will have little effect on the US affordability crisis?Indian imports are less than 3% of the US total. While tariff increases are readily passed to consumers, tariff reductions (strangely) are less likely to be passed through.