india

Blackstone CEO Stephen Schwarzman downplays impact of tariffs, calls it 'short-term disruption'

Blackstone CEO Stephen Schwarzman downplays the impact of the 25% tariffs on steel and aluminium that came into effect, calling them a “short-term disruption.” He views the tariff changes as a temporary “phenomenon” and believes the world will adapt over time, with countries adjusting through currency fluctuations and cost-sharing between producers and consumers. The American tariffs were implemented on the same day of the interview, and major economies are still assessing their effects. While the White House has stated there will be “exceptions,” India, which is not expected to be included in the April 2 tariff list, continues to negotiate with the U.S. Regarding trade, Schwarzman sees India’s growing role in global supply chains as an opportunity, positioning the country as an alternative to China. He also emphasized that India’s trade relations with the U.S. are developing and that India is well-positioned for future trade agreements.

first published: Mar 12, 2025 05:52 pm