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According to the new U.S. trade policy announced by President Donald Trump on Wednesday, the amount a country pays in tariffs will depend on the type of goods being exported and their origin, says GTRI founder Ajay Srivastava.Firstly, some goods will face zero tariffs, these include essential and strategic items such as pharmaceuticals, semiconductors, copper and energy products like oil, gas, coal and LNG.Only the non-U.S. portion of products having 20 percent or more U.S.-made content will be taxed. Also, low-value shipments under USD 800, which mainly cover e-commerce orders, will be taxed at old tariff rates.Secondly, a 25 percent tariff will apply to key industrial sectors, such as aluminium, steel, automobiles, and auto parts, and will apply to most countries.For most other goods, there will now be a two-layered tariff system. All imports are first subject to a 10 percent baseline tariff starting April 5, 2025. Then, beginning April 9, 2025, certain countries will face country-specific tariffs. Country-specific tariffs will replace baseline tariffs after April 9th.Starting April 9, goods from India could be subject to tariffs as high as 27 percent. However, pharmaceuticals, semiconductors, copper, and energy products remain exempt from any new tariffs."The actual tariff a country faces depends on what it's exporting and how its trade practices align with U.S. economic and national security interests," says Ajay SrivastavaExecutive Order-Sec. 2. The Reciprocal Tariff Policy reads, "The additional ad valorem duty on all imports from all trading partners shall start at 10 percent and shortly thereafter, the additional ad valorem duty shall increase for trading partners enumerated in Annex I to this order at the rates set forth in Annex I to this order. These additional ad valorem duties shall apply until such time as I determine that the underlying conditions described above are satisfied, resolved, or mitigated". (ANI)

Macquarie has recommended top stock ideas from a six-month to three year timeframe. The target prices imply upsides of 20% to 58.7% from the closing prices on Wednesday. 119923401

Mumbai: Brokerage Bernstein initiated coverage on Waaree Energies and Premier Energies with an 'Underperform' rating, citing that the solar photovoltaic (PV) space companies are close to the cyclical peak returns. The firm set price targets of ₹1,902 for Waaree and ₹693 for Premier, implying downsides of 16% and 22% over Wednesday's closing prices."We initiate at underperform considering where we are in the cycle, our expectation of deterioration in returns and their rich valuations," said Bernstein in a client note. "One cannot give the same multiple to a business built on the premise of a regulatory arbitrage."Waaree shares fell 4.2% to ₹2,279.8 and Premier declined 2.2% to ₹889.8 on Wednesday.Bernstein said Waaree and Premier face the risk of deep-pocketed bigger groups entering the space. "We think this will eventually be a place for the big players with backward integration - Reliance, Adani Enterprises etc.- to lead," said the brokerage. "While Waaree does show the potential to join this league, and is rightly exploring avenues beyond the module-cell, we think the key competitors have much bigger wallets to compete.""It's too early to dismiss them, but at the valuations they trade it - we think it already prices in them joining the big boys club."