Mumbai, April 23 -- Reserve Bank of India noted in a latest monthly update that the global economic landscape is rapidly evolving, with trade policy uncertainty emerging as the key driver of the near-term outlook. On April 2, 2025, the US announced a 10 per cent base tariff and reciprocal levies on approximately 60 countries, taking average US tariffs to their highest levels in over a century. A 90 day pause on implementation of tariffs was announced on April 9 for those countries which did not resort to retaliatory actions. These developments have stoked fears of a global trade war, and countries are still working out their appropriate response in this uncertain environment. The baseline assessment is that global growth is likely to weaken...