Output in India projected to fall by a bit more than 0.2%, subject to higher than average tariffs: BIS

In India, subject to higher than average tariffs, output is projected to fall by a bit more than 0.2%, according to the Bank of International settlements. BIS used a multi-sector global trade model to form an initial quantitative assessment of the impacts of tariffs on output and inflation. The model's projections also indicate that the effects will be felt strongly in the United States. Relative to a counterfactual with unchanged tariffs, the model suggests a significant drop in output and rise in the price level in the United States.

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