Marketplace Morning Report India cuts taxes for shoppers to counter Trump’s trade war
Sep 4, 2025
India is slashing taxes on everyday goods to stimulate consumer spending, responding to hefty U.S. tariffs on exports. This tax overhaul aims to simplify costs and encourage optimism among shoppers. Meanwhile, a group of hackers claims responsibility for a major cyberattack disrupting production at Jaguar Land Rover. Additionally, Texas is tightening property restrictions for foreign-born individuals and businesses, impacting specific communities.
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Tax Cuts To Stoke Domestic Demand
- India cut GST on many everyday items to spark household demand and protect jobs.
- The government bets consumption will offset losses from steep U.S. tariffs on exports.
Tariffs Vs. Tax Cut Trade-Off
- Experts estimate India's economy could lose $50–$60 billion from 50% U.S. tariffs.
- The tax cuts will cost the Exchequer about $6 billion and aim to revive consumer spending.
Hackers Halt Jaguar Land Rover Lines
- A group of English-speaking hackers claimed responsibility for a cyberattack that halted Jaguar Land Rover production.
- JLR says it is investigating the group's bragging on Telegram and the broader disruption to dealerships and garages.