The trade war escalated dramatically throughout the day. Trump's 104% tariff on China and 26% on India took effect in the morning, prompting China to respond with an 84% tariff on US goods. By evening, Trump announced a 90-day pause on tariffs for most countries while increasing China's tariff to 125%.
The Reserve Bank of India cut the repo rate by 25 basis points to 6%, its second consecutive reduction, offering relief to borrowers amid the tariff turbulence.
India approved a Rs 63,000 crore deal to purchase 26 Rafale Marine jets from France, strengthening naval capabilities. The government also terminated Bangladesh's transshipment facility following Prime Minister Yunus's increasing engagement with China.
26/11 Mumbai attack conspirator Tahawwur Rana was extradited from the US, with his special flight expected to land in Delhi tomorrow. He will be held in Tihar jail and face trial for his role in the attacks.