India, April 2 -- Indian shares look set to open sharply lower on Thursday after U.S. President Donald Trump announced reciprocal tariffs affecting over 180 countries, including a 26 percent tariff on India - half the rate India imposes on U.S. imports, leaving some room for negotiation.
Good news is pharma as well as steel, copper, bullion, energy and other certain minerals that aren't available in the U.S., are exempt from the reciprocal tariff for now.
Experts said sectors like electronics, IT and automobiles will face the tariff heat, but in the medium to long term, the market is likely to absorb the impact. In the short term, FII selling may lead to volatility.
Apart from country-specific tariffs, Trump also announced the imposition...