The U.S. has imposed combined 50% tariffs on a range of Indian products after an initial 25% tariff and an additional 25% tied to India's purchases of Russian oil. The Indian government estimates $48.2 billion of exports will be affected, potentially making many shipments commercially unviable and triggering job losses and slower economic growth. Labor-intensive sectors such as textiles, gems and jewelry, leather goods, food and automobiles face the largest impact. Some sectors, including pharmaceuticals and electronic goods, are exempted from the additional duties, providing partial relief. Exporters may need stronger domestic demand or alternative markets to offset U.S. losses.
Steep U.S. tariffs on a range of Indian products took effect Wednesday, threatening a serious blow to India's overseas trade in its largest export market. President Donald Trump had initially announced a 25% tariff on Indian goods. But earlier this month he signed an executive order imposing an additional 25% tariff due to India's purchases of Russian oil, bringing the combined tariffs imposed by the U.S. on its ally to 50%.
The Indian government estimates the tariffs will impact $48.2 billion worth of exports. Officials have warned the new duties could make shipments to the U.S. commercially unviable, triggering job losses and slower economic growth. IndiaU.S. trade relations have expanded in recent years but remain vulnerable to disputes over market access and domestic political pressures. India is one of the fastest-growing major global economies and it may face a slowdown as a result.
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