US President Donald Trump has announced a mutual tariff to several countries including India. The effect of which was also seen on the Indian companies listed in the stock market today. These companies are Avanti Feeds, Apex Frozen Foods and Costal Corp. Talking about the shares of Avanti Feeds, it fell about 2 per cent to the level of Rs 720. While Apex Frozen shares fell more than 6 per cent to the level of Rs 199. Similarly, the shares of Costal Corp were also seen trading at less than 35 per cent at less than 35 per cent.
By the December quarter, Avanti Feeds earned 69 percent of her total revenue from the North American market. The company earned 17 percent of its revenue from Europe and 14 percent from Asia. Its revenue from North America fell 82% in the third quarter of FY 24. Talking about Apex Frozen Foods, its stock is at the lowest level. In FY 2024, the US was its top export market. Which had 64 percent stake in exports.
What is Trump’s decision?
The US has announced 26 percent mutual tax or import tax on Indian goods entering its markets. Experts believe that these tariffs will create challenges for Indian goods.
How much has America taxed?
President Donald Trump has created a ruckus by dropping the tariff bomb. It was announced to impose 26 percent mutual tariff tax on India. Trump’s steps will affect India. Trump has announced a counter tariff increase on all products imported from India. Following this decision, tariffs will be increased on all the goods sold by India to the US, including petroleum, automobiles, telecommunications, gems and stones, electronic machines and parts. Trump increased the tax on products coming from India, but kept the pharma sector out of it.
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