Caught in the morass were companies like Loloi, which imports all of its rugs. Suddenly, it was contending with double-digit tariffs on India, Turkey and every other country where its rugs are made.
A Supreme Court ruling on the legality of many of the tariffs, which is expected in the coming weeks, could introduce new unknowns.
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International mutual funds have delivered triple-digit gains since Budget 2025, driven by a rebound in US and Asian markets. Experts say the surge reflects a cyclical recovery, not a structural shift.
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