Trump’s tariff shocker: How India’s commodities and currency reacted

August 9, 2025

U.S. tariffs on Indian imports, effective August 1, 2025, have sent shockwaves through India’s markets. Gold prices soared to record highs, while crude oil and natural gas prices declined amid demand concerns. Base metals experienced volatility, and the rupee weakened against the dollar. India is focusing on trade negotiations and diversification to mitigate the impact, avoiding retaliatory tariffs.

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