Brokerages Decode Tariff Impact

US President Donald Trump on Wednesday imposed a 27 percent reciprocal tariff on India, along with higher duties on several other countries.

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The sweeping global tariffs are expected to disrupt trade trends and impact key domestic sectors, from information technology to automotive. Here's what leading brokerages have to say:

NOMURA

This is a clear risk-negative event for Asian stocks, and we do not see it as a market 'clearing event'. The repercussions of tariffs will likely be felt on the US inflation and growth outlook over the next few weeks and months. We expect investors to scrutinize core US economic data — such as payrolls, employment, inflation, and consumer spending/retail sales — to assess the health of the US economy. Softening of data will likely increase market concerns about a US recession or stagflation.

HSBC