Trump Tariffs: 10% baseline tariff remains in place for all, including India- All you need to know; Market volatility is normal: $44 B fund manager

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Trump Tariff Pause: 10% baseline tariff remains in place for all, including India — Here's what it means

US President Donald Trump has paused the implementation of reciprocal tariffs for 90 days for many countries, except for one.In a post on Truth Social, Trump said, "Based on the fact that more than 75 countries have called representatives of the US to negotiate a solution and that these countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorised a 90 day pause, and a substantially lowered reciprocal tariff during this period, of 10%, also effective immediately".

Here is an explainer on what Trump's latest announcement means for global markets

DO ALL RECIPROCAL TARIFFS GET PAUSED?

The reciprocal tariffs are paused for 90 days for all nations, except for China. However, a baseline tariff of 10% that went into effect on April 5, remains in place on everyone.

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US raises tariffs on China to 125%, announces 90-day 'pause' for more than 75 other countries

China’s consumer deflation persists as trade war poses new risks

China’s consumer deflation extended for a second month in March, as an escalating trade war with the US threatens to put more downward pressure on prices.

The consumer-price index declined 0.1% from a year earlier, the National Bureau of Statistics said Thursday, compared with a 0.7% drop in the previous month. The median forecast of economists surveyed by Bloomberg was zero. China’s core CPI, which excludes volatile items such as food and energy, rebounded to 0.5% in March from minus 0.1% in the previous month. Factory deflation persisted for a 30th month, with the producer-price index recording a faster drop of 2.5% compared to 2.2% in FebruaryThe urgency to reflate the economy is only increasing while the trade conflict with the US ratchets up. Beijing has laid out plans to pump up fiscal stimulus and made boosting domestic consumption a priority this year.

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Why airfares on a flight can be ₹1,500 or even ₹5,000 on the same date

Ever seen two seats on the same flight on the same day priced at ₹1,500 and ₹5,000? It might seem odd, but it’s not a glitch or a random fare hike. These are just examples of how ticket pricing works under the government’s regional flying scheme, UDAN.UDAN stands for Ude Desh ka Aam Nagrik, and it’s a scheme that offers cheaper airfares to boost connectivity to smaller towns. While some seats under the scheme are capped and subsidised by the government, others are sold at market rates — and that’s what creates the huge difference in prices.The government has classified 619 routes as operational under this scheme, with major players like IndiGo, SpiceJet, Alliance Air, Fly91, Star Air and others flying to and from these destinations.

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Delhi-Gurugram traffic to ease as Dwarka expressway tunnel nears completion

Commuters travelling between Delhi and Gurugram may soon experience reduced congestion, with the much-awaited tunnel connecting Dwarka Expressway to the Indira Gandhi International (IGI) Airport expected to open by the end of May.

The development is likely to ease traffic pressure on National Highway-48 (NH-48), the primary route linking the two cities. The tunnel has been built using advanced engineering standards and equipped with modern safety infrastructure, including CCTV surveillance and a dedicated war room for real-time monitoring, according to News18 Hindi.Once operational, the tunnel is expected to streamline travel between key areas such as Gurugram, Vasant Kunj, Dwarka, and Alipur.

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#Techtalks📱

Designed in California, made around the world — What it takes to make an iPhone

Apple's iPhone is probably the most important technological innovation of this century. In 2007, when Steve Jobs unveiled the original iPhone, jaws dropped. Today, the iPhone has become a device so common that it's almost unremarkable. That said, the iPhone represents one of the most complex global supply chains in modern manufacturing. While each unit bears the inscription "Designed in California, Assembled in China," the reality involves components and expertise from more than 40 countries.

The Global Supply Web

Ongoing geopolitical tensions, particularly the US-China trade disputes sparked by Donald Trump's tariffs, have brought unprecedented attention to this intricate supply network. These challenges have pushed Apple to rethink its manufacturing strategy, leading to a possibly increased diversification of its supply chain.

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New Aadhaar app launched in beta version: How face ID enables verification like UPI

Union Minister Ashwini Vaishnaw launched the beta version of the new Aadhaar app. The app promises stronger privacy and easier access to Aadhaar services. “Aadhaar verification is now as simple as making a UPI payment,” Vaishnaw said in a post on X.

What the new Aadhaar app offers?

The app, built with support from UIDAI, uses Face ID and artificial intelligence for real-time authentication. It also features QR code-based instant verification.Users can verify their identity by simply scanning a QR code. No more need to carry Aadhaar photocopies while travelling, checking into hotels, or shopping.The app ensures data sharing only with user consent. It gives individuals full control over what information they share.

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#Personalfinance💰

Market volatility is normal, says $44 billion fund manager-use it to your advantage

Markets have been in a corrective phase for about six months. According to Harish Krishnan, Co-CIO & Head-Equity at Aditya Birla Sun Life AMC, which manages assets worth nearly $44 billion, this started as a normal correction—driven by high valuations and slowing earnings—but has now been worsened by global uncertainty like US tariff actions.But he says this is not unusual. “Every year, markets usually fall around 10-15%. People just forgot this after COVID,” he said. Harish believes successful investors are often contrarian—they don’t follow the crowd blindly. Instead, they use times of fear to find opportunities.

He stated that asset allocation funds, such as Balanced Advantage Funds (BAFs) or Multi-Asset Funds, help investors manage risk and volatility. These funds invest across multiple asset classes (like equity, debt, and gold), and adjust the allocation based on market conditions. They are also tax efficient, since the fund handles rebalancing internally.

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EPFO allows one-time payment of past EPF dues via demand draft

Employers struggling to clear old EPF dues can now pay via demand draft, thanks to a new relief measure by the Employees’ Provident Fund Organisation (EPFO).

In a recent circular, the EPFO said it would accept one-time payments of past dues through demand draft. This is an exception to the usual online process where employers file Electronic Challan-cum-Return (ECR) and pay dues via internet banking.

Why the change?

Many employers have faced technical issues or delays in ECR filing. As a result, they couldn’t deposit EPF dues on time, triggering penalties and employee grievances.Field offices had raised this concern. In response, the EPFO said denying payment simply because of a missed ECR should be avoided, especially when employers are willing to pay.

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RBI proposes new gold loan rules: What borrowers and lenders need to know

The Reserve Bank of India (RBI) on  Wednesday (April 9) published a draft regulatory framework for lending against gold. The move comes shortly after the central bank decided to cut the repo rate, signaling a broader effort to fine-tune credit practices and consumer protection.The draft aims to introduce a harmonised set of rules across all lenders—banks, NBFCs, co-operative banks, and regional rural banks (RRBs)—involved in gold-backed lending.The RBI said the proposed framework is meant to strengthen conduct-related aspects and address concerns seen in current lending practices.

Key proposals of the draft paper:

• Gold loan norms must be part of the lender’s credit and risk management policy.

• Policies must include single-borrower and sectoral limits for gold loan portfolios.

• Lenders must define clear valuation standards, gold purity checks, and mechanisms to monitor the end-use of loans.

• All loans must be linked to the borrower’s repayment capacity. Proper credit appraisal and due diligence are mandatory.

• Lenders must put in place systems to periodically monitor loan usage and keep evidence on record.

• Loan renewals and top-ups are allowed only if the existing loan is classified as standard and within the loan-to-value (LTV) limit.

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