‘Multi-polar world will now become a reality faster...’: Anand Mahindra speaks on India-US tariff war 

Anand Mahindra isn’t one to overstate — but when the Mahindra Group Chairman described the latest US tariff move as a “signpost” to a fast-approaching multipolar world, it echoed far beyond boardrooms. Reacting to President Donald Trump’s sweeping tariff announcement, Mahindra said the shift in global power dynamics is no longer a distant possibility — it’s already accelerating.

“The new tariffs announced by the US are a signpost of one major geopolitical development. The multipolar world will now become a reality faster than anyone had ever expected,” Mahindra wrote in a post on X (formally Twitter) while sharing a news report. 

India struck a measured tone in response to the US's fresh tariffs, indicating it is still pursuing a trade deal with Washington despite not receiving any immediate relief. “We are studying the impact,” a government official said, referring to the 27% tariff the US has imposed on Indian imports.

President Donald Trump on April 3 announced a new set of ad-valorem duties ranging from 10% to 50% on imports from all global partners. The first tranche — a 10% tariff — will kick in on April 5, followed by a 27% rate from April 9. Key sectors including pharmaceuticals, semiconductors, and energy have been granted exemptions.

The global reaction has been swift and tense. Countries are now scrambling to recalibrate their trade strategies in light of what many see as a seismic shift in how business with the US will be done. The Trump administration has framed the tariffs as part of a broader effort to revive domestic manufacturing, combat unfair foreign trade practices, boost tax revenues, and deter both illegal immigration and drug trafficking.

Pushback is already mounting. The European Union and China have pledged retaliatory measures, and South Korea has vowed an “all-out” response. In a significant development, South Korea, China, and Japan convened their first economic dialogue in five years on March 30, signaling a new urgency in fostering regional trade ties. In a joint statement, their trade ministers committed to “closely cooperate for a comprehensive and high-level” approach to strengthening both regional and global trade.

Markets have not taken the news lightly. US stock indices plunged after Trump’s announcement. The Nasdaq dropped 4.5% at the open, while the S&P 500 and the Dow fell 3.4% and 2.7%, respectively. The shockwaves were felt across the Atlantic too, as the UK’s FTSE 100 recorded its steepest one-day drop in eight months, shedding 133 points, or 1.5%, to close at 8,474.