'Nothing wrong with 15%': Samir Arora explains why Trump's tariff may not hurt India
Donald Trump on Saturday hiked a global tariff to 15 per cent, up from the 10 per cent rate imposed a day earlier, after the US Supreme Court struck down his earlier tariffs
- Feb 22, 2026,
- Updated Feb 22, 2026 12:06 PM IST
Helios Capital founder Samir Arora on Sunday sought to calm concerns over US President Donald Trump's decision to raise global tariffs to 15 per cent, arguing that the move is unlikely to materially hurt India.
"Nothing wrong with 15% as far as India is concerned," Arora said, laying out a point-by-point explanation of why the increase from 10 per cent may not alter India’s position.
Also read: 'Seems hard to rely on': Top lawyer behind SC blow questions Trump's 15% tariff authority again
Trump on Saturday hiked a global tariff to 15 per cent, up from the 10 per cent rate imposed a day earlier after the US Supreme Court struck down many of the far-reaching tariffs he had introduced last year under emergency powers. The court ruled that he lacked authority under the 1977 International Emergency Economic Powers Act (IEEPA) to impose such sweeping levies.
Despite the setback, Trump moved to use a more limited legal authority. He signed an executive order imposing a 10 per cent tariff on imports from all countries for 150 days. A day later, he hiked that to 15%.
If all face 15%, where is the disadvantage?
Arora's central argument is that tariffs derive power from differentiation. "There were more than 90 countries which had a 10% tariff and I guess they will all be at 15% for now. Some of them are Australia, UK, Singapore, UAE who had 10% tariff before and will now be at 15%," he said.
"Tariffs have power if you can pitch one country against another. If all countries have 15% (or 10%) how does it matter much- this is more of an internal tax issue for the US now.," he added.
In other words, if competitors face the same rate, India does not lose relative advantage. Arora also noted that the earlier 10 per cent rate was itself below the statutory ceiling. "Initial 10% was anyway surprising since max allowed is 15%," he said.
The veteran fund manager pointed out that the measure is currently limited to 150 days. "Beyond 5 months how this will be extended is not obvious anyway and will need congressional approval."
He also observed that Europe, Japan, and South Korea are effectively back to where they were, suggesting no major reshuffling of global trade dynamics.
India is still below the earlier 18% mark
Arora argued that even if tariffs eventually revert to higher levels for India, the outcome may not materially differ from what markets had already priced in. "India would have been happy to have a signed deal at 18% and for now it is 15%," he said. "Even if finally due to other sections it does go back to 18% for India, it is same as it would have been without this recent drama."
Helios Capital founder Samir Arora on Sunday sought to calm concerns over US President Donald Trump's decision to raise global tariffs to 15 per cent, arguing that the move is unlikely to materially hurt India.
"Nothing wrong with 15% as far as India is concerned," Arora said, laying out a point-by-point explanation of why the increase from 10 per cent may not alter India’s position.
Also read: 'Seems hard to rely on': Top lawyer behind SC blow questions Trump's 15% tariff authority again
Trump on Saturday hiked a global tariff to 15 per cent, up from the 10 per cent rate imposed a day earlier after the US Supreme Court struck down many of the far-reaching tariffs he had introduced last year under emergency powers. The court ruled that he lacked authority under the 1977 International Emergency Economic Powers Act (IEEPA) to impose such sweeping levies.
Despite the setback, Trump moved to use a more limited legal authority. He signed an executive order imposing a 10 per cent tariff on imports from all countries for 150 days. A day later, he hiked that to 15%.
If all face 15%, where is the disadvantage?
Arora's central argument is that tariffs derive power from differentiation. "There were more than 90 countries which had a 10% tariff and I guess they will all be at 15% for now. Some of them are Australia, UK, Singapore, UAE who had 10% tariff before and will now be at 15%," he said.
"Tariffs have power if you can pitch one country against another. If all countries have 15% (or 10%) how does it matter much- this is more of an internal tax issue for the US now.," he added.
In other words, if competitors face the same rate, India does not lose relative advantage. Arora also noted that the earlier 10 per cent rate was itself below the statutory ceiling. "Initial 10% was anyway surprising since max allowed is 15%," he said.
The veteran fund manager pointed out that the measure is currently limited to 150 days. "Beyond 5 months how this will be extended is not obvious anyway and will need congressional approval."
He also observed that Europe, Japan, and South Korea are effectively back to where they were, suggesting no major reshuffling of global trade dynamics.
India is still below the earlier 18% mark
Arora argued that even if tariffs eventually revert to higher levels for India, the outcome may not materially differ from what markets had already priced in. "India would have been happy to have a signed deal at 18% and for now it is 15%," he said. "Even if finally due to other sections it does go back to 18% for India, it is same as it would have been without this recent drama."