Former Reserve Bank of India Governor Raghuram Rajan downplayed the impact of President Donald Trump's "Liberation Day" tariffs on India even as the financial markets swooned in response to the measures.

Former RBI governor Raghuram Rajan criticised the Trump administration’s new reciprocal tariffs, calling them a 'self-goal' that will harm the US economy in the short term. Rajan notes that the impact on India will be relatively smaller and suggests India reduce domestic tariffs to boost trade and competitiveness despite the global trend towards protectionism.

Raghuram Rajan calls Trump's tariffs a 'self-goal' for the US economy. He believes, the US's broader strategy to reduce imports and boost domestic production, may take time to fully materialise