U.S. tariffs on a range of Indian products took effect Wednesday, threatening a steep blow to India’s overseas trade in its largest export market.
US tariffs take effect on India, threatening $48.2B in exports
U.S. tariffs on a range of Indian products took effect Wednesday, threatening a steep blow to India’s overseas trade in its largest export market.
U.S. tariffs on a range of Indian products took effect Wednesday, threatening a steep blow to India’s overseas trade in its largest export market.
U.S. tariffs on a range of Indian products took effect Wednesday, threatening a steep blow to India’s overseas trade in its largest export market.
U.S. tariffs on a range of Indian products took effect Wednesday, threatening a steep blow to India’s overseas trade in its largest export market.
Steep U.S. tariffs on a range of Indian products took effect Wednesday, threatening a steep 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.
India-U.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.
