India braces for export shock as US tariffs take effect
NEW DELHI (AP) — India is bracing for a sharp blow to its overseas trade as steep U.S. tariffs take effect on a range of Indian products Wednesday — a move that threatens over half of India’s exports to its largest market and highlights the fragile trade ties between the two countries. 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 United States on its ally to 50%. The Indian government estimates the tariffs will impact $48.2 billion worth of exports.
