Tariff changes are short-term phenomenon, world will adjust, says Blackstone CEO Stephen Schwarzman amid Trump's trade war

As the world waits for the full-fledged impact of the 25 percent tariffs on steel and aluminium that came into effect from Wednesday, Blackstone CEO Stephen Schwarzman played down the effect calling it a “short-term disruption.”

In an exclusive interview to Bodhisatva Ganguli, Group Consulting Editor, Network18, Schwarzman said that tariff changes were a temporary “phenomenon”, and the world will adjust to the development over time. On the future course of action, the Blackstone boss said that “countries will adapt to tariffs through currency fluctuations and shared costs between producers and consumers.”

The statement came on a day when the American tariffs on the metals came into force. While major economies are still assessing the impact, the White House has made it clear that there will be “exceptions.”

Amid the fears of the reciprocal tariffs, India maintains that the negotiations are on, and New Delhi will not be part of the April 2 list. When asked about the trade talks between New Delhi and Washington, Schwarzman told Moneycontrol, “India’s trade relations with the US are developing, and Blackstone’s leadership believes India is well-positioned for future trade agreements India’s role as an alternative to China in global supply chains presents a significant opportunity for India.”