Mumbai - Economists at the Japanese brokerage Nomura said that despite what seems to be a successful Modi-Trump meeting on Friday, New Delhi faces short-term risks from reciprocal tariffs. However, they also expressed that medium-term gains are possible once the dust settles on the trade war.

Trump has also said that under the reciprocal tariff plan, which will kick in from April 1, the US will charge Indian goods at the same rate that is being levied on its goods landing on Indian shores. They also expect negotiations on the proposed trade deal to be . . .