U.S. President Trump’s expanded tariff campaign—including a 50% tax on copper and steep duties on semiconductors, pharmaceuticals, and BRICS-aligned trade—has rattled Asian currencies. The Indian rupee bears the brunt, with its one-month forward slipping into the ₹85.74–85.78 range from ₹85.6950, reflecting potential pressure ahead. Though exporters’ support has kept the currency from freefall, growing uncertainty looms. Equity flows demonstrated mixed sentiment: foreign investors added $322.9 million in stocks but withdrew $29 million from bonds on July 7, reflecting cautious optimism amid volatility.