India's Negotiators Prepare For Return To US; Trump Levies Tariffs On 22 Countries — Key Highlights

President Trump celebrated the rise in tech stocks, attributing the gains to the tariff policies. Bitcoin crossed $112,000. On the home front, negotiators prepare to head back to the US for further trade talks, and revised its proposal to impose retaliatory duties to 50% under the World Trade Organisation.

With this, NDTV Profit wraps up its trade coverage for the day. Good night, readers.

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India has revised its proposal to impose retaliatory duties under the World Trade Organisation norms against the US over American tariffs on steel and aluminium in view of the further hike in duty by the Trump administration.

"This request is made in response to the increase in the tariff rate by the US from 25% ad valorem to 50%," the WTO has said in a communication on Wednesday.

Bitcoin surged past $112,000 for the first time as US investor setiment buoyed amidst various tariff letters being rolled out. The cryptocurrency was trading as high as 1.75% to $112,700.75 as of 10:05 p.m.

India aspires to grow 10% of global trade, said Special Secretary and Chief Negotiator Rajesh Agrawal. We have more than 14 FTAs, he said, mentioning major markets like the UK, the EU as well as Latin America.

Tariffs will be bilaterally cut with these agreements, and will create predictability in tariffs, said Agrawal.

"Tech Stocks, Industrial Stocks, & NASDAQ, HIT ALL-TIME, RECORD HIGHS! CRYPTO, “Through the Roof.” NVIDIA IS UP 47% SINCE TRUMP TARIFFS. USA is taking in Hundreds of Billions of Dollars in Tariffs. COUNTRY IS NOW “BACK.” A GREAT CREDIT! FED SHOULD RAPIDLY LOWER RATE TO REFLECT THIS STRENGTH. USA SHOULD BE AT THE “TOP OF THE LIST.” NO INFLATION!!!" said the President of the US in a Truth Social post.