💰️ US suspends extra tariffs on India

Good morning and happy Friday. It’s been a long week - hope you manage to get some rest when the weekend arrives ☺️ 

Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 📜 Does the DPDP Act undermine the RTI?

• 💰️ US suspends extra tariffs on India

• 🗞️ Bite-sized summaries

  • 📉 Stock drop

  • 🇨🇳 Has China blinked first in the Trump tariff face-off?

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• Indian markets remained closed on April 10th in observance of Mahavir Jayanti.

🌍️ International

• US stocks fell sharply, erasing much of Wednesday’s historic gains. Concerns over tariffs and inflation continued to weigh on investor sentiment.

CONSTITUTION

📜 Does the DPDP Act undermine the RTI?

The recently passed Digital Personal Data Protection (DPDP) Act has sparked a heated debate in India, especially around its impact on the Right to Information (RTI) Act. Critics fear it could erode transparency, but the government insists it strikes a careful balance between privacy and public accountability.

At the heart of the controversy is a change introduced by the DPDP Act that removes a key RTI clause—the one that allowed personal data to be disclosed if it was linked to public interest or public activity. The amendment also deletes a provision that stated information accessible to Parliament or state legislatures must also be available to the public.

This has raised concerns among activists, lawyers, and former officials. They argue that blanket exemptions for personal data could block crucial information needed to uncover corruption, track public spending, or hold officials accountable. Examples include accessing names of major loan defaulters, electoral bond buyers, or the declared assets of public servants.

However, IT Minister Ashwini Vaishnaw has pushed back strongly. In a letter to Congress MP Jairam Ramesh, he clarified that the DPDP Act doesn’t dilute the RTI Act. Instead, it aligns with the Supreme Court’s judgment recognizing privacy as a fundamental right under Article 21. Vaishnaw noted that data already made public or shared under legal obligations—like through welfare schemes such as MGNREGA—will still be accessible.

Overall: The government’s stance is that this law isn’t about hiding information, but about preventing misuse of personal data. According to Vaishnaw, it preserves transparency while reinforcing the right to privacy, ensuring public information remains public—just not at the cost of individual data protection.

As India charts its digital future, this debate raises a critical question: How do we protect privacy without compromising accountability? The answer, and the implementation of the DPDP Act, will shape the country’s information landscape for years to come.

Read more: Economic Times

TARIFFS

💰️ US suspends extra tariffs on India

In a welcome move for Indian exporters, the United States has temporarily suspended a 26% additional import tariff on Indian goods until July 9, 2025. While a 10% base tariff remains in place, this 90-day pause offers much-needed breathing room for both nations to push forward on long-pending bilateral trade agreement (BTA) negotiations.

These additional tariffs were part of a broader set of reciprocal duties introduced by President Trump on April 2, targeting around 60 countries. The intent was to tackle the US trade deficit and bolster domestic manufacturing. India was among those hit hardest—particularly in sectors like steel, aluminium, auto components, and seafood—while countries like China faced even steeper penalties, with tariffs raised to 125%.

Crucially, this tariff suspension does not apply to China or its territories, signalling a shift in the US's strategic alignment. President Trump noted that over 75 countries have shown willingness to address trade imbalances—India being one of them.

For India, this pause is both relief and opportunity. Exporters see it as a chance to reset the trade conversation. Sectors such as semiconductors, pharmaceuticals, and certain energy products are already exempt, but the broader goal is to finalize a balanced trade agreement that supports long-term growth.

Overall: India’s Commerce Minister Piyush Goyal has assured exporters that negotiations are progressing “with speed, but not undue haste,” aiming to double bilateral trade to $500 billion, up from $191 billion currently. The US remains India's largest trading partner, accounting for 18% of its exports and over $35 billion in trade surplus last year.

This temporary tariff relief is more than a technical policy shift—it’s a diplomatic signal. It underscores the growing strategic partnership between India and the US and sets the stage for deeper economic ties in a shifting global trade environment.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

📉 Stock drop - US stocks dropped sharply on Thursday after a big rally the day before, sparked by President Trump’s 90-day pause on tariffs for many countries. The Dow Jones fell over 800 points, while the S&P 500 and Nasdaq each dropped more than 2%. Despite a cooler inflation report, which boosted hopes for rate cuts, most sectors ended in the red, especially tech and energy. Tesla and Nvidia slid over 4%. Tariffs on Chinese goods were raised to 125%, and China retaliated. Still, trade tensions eased slightly as the EU delayed its own counter-tariffs. Bond yields fell, and rate cuts are now expected.

🇨🇳 Has China blinked first in the Trump tariff face-off? - Trump's 90-day tariff pause for all nations except China has intensified pressure on Beijing, isolating it diplomatically and economically. Once defiant, China now signals openness to dialogue as its economy battles a property crisis, deflation, and weakening consumer demand. Attempts to rally support from India, Australia, and the EU have largely failed, leaving China alone in the trade war. With retaliatory options limited and growth forecasts cut, Beijing may be reconsidering Trump’s offer to negotiate. The tariff pause appears to be a calculated move to break China's resistance—and it might be working.

HEADLINES

🧑‍🍳 What else is cookin’?

What’s happening in India (and around the world 🌍️)

• 'Trump should deport Xi's daughter': As US-China trade war escalates, MAGA calls for crackdown on Chinese students.

• India gives global booze biz a hangover.

• India eyes export gains as US-China trade war opens market opportunities.

• India's Adani Enterprises to start copper smelter in four weeks.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Jaat review: Sunny Deol's messy, massy thriller is overly noisy.

• Sinners review: Michael B. Jordan doubles the magnetism in Ryan Coogler’s audacious journey into a community’s violated soul.

• IPL 2025: DC beat RCB by 6 wickets. Leaderboard here.