Despite the development, uncertainty on tariffs remains, Gaura Sen Gupta, chief economist at IDFC First Bank Ltd, said. While going forward the US’s ability to use tariffs will be restricted, “in the base case we expect the trade deal with the US to go ahead.” she said. “From a certainty perspective it’s better to have a deal with the US , as they will find a way to impose additional tariffs under other acts such as unfair trade practices.”
