U.S. tariffs could push allies to forge closer relationships with other countries like China and India, according to former U.S. diplomat Wendy Cutler.

India needs to buy more defence products and lower its tariffs on U.S. products for the two countries to be able to sign a "grand" bilateral deal, U.S. Commerce Secretary Howard Lutnick told India Today television on Friday.

Stephen Schwarzman, Blackstones CEO, believes the new US tariff regime could boost growth by attracting foreign investments and revitalizing US manufacturing. He anticipates significant economic expansion driven by increased manufacturing activity.