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The sweeping new tariffs announced Wednesday by U.S. President Donald Trump were met initially with measured reactions from key trading partners, highlighting the lack of appetite for a full-fledged trade war.
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Banks and NBFCs like HDFC Bank, Yes Bank, and Bajaj Finance have started cutting deposit rates, signaling a downward trend in interest rates. The Reserve Bank of India is expected to announce another repo rate cut soon, which will further enhance liquidity and likely lower lending rates.
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The president says the US has been "pillaged, raped and plundered" for years by international trade partners.
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