Reciprocal U.S. trade tariffs proposed by President Donald Trump are unlikely to have a significant negative bearing on the rupee, the head of global foreign exchange at Jefferies said. Last week, Trump unveiled plans to levy reciprocal tariffs on all countries that have tariffs on U.

Goldman Sachs also noted that non-tariff barriers, such as import licences and export subsidies, present a complex challenge.

Reiterating his claim that “every country” took advantage of the US with tariffs, Trump began by citing the example of tariffs on cars in India