The Indian stock market rose slightly, and India challenges the United States on the issue of car tariffs, adopting a more hard-line trade stance.
The Indian stock market saw a slight increase, with both the Indian NIFTY index and the Indian SENSEX index rising by about 0.3%. It was reported that on Tuesday, India officially filed a complaint with the World Trade Organization regarding the United States' increase in automobile tariffs. This move indicates that the South Asian country is taking a more hardline stance in trade negotiations, even though the two countries are working towards reaching a temporary agreement before July. According to a notification, New Delhi informed the WTO that the 25% tariff imposed by the US on imported passenger cars, light trucks, and certain automotive components is considered a "safeguard measure" and is affecting its exporters. India has sought to engage in discussions with Washington regarding the tariff issue.
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