Trump's 50% tariff on India takes effect as ties sour
50% US tariffs on many Indian goods are now in effect — a sharp hike from the 25% earlier this month. US President Donald Trump has cited India's purchase of Russian oil, which he says funds the Kremlin's war in Ukraine, as the reason. Sectors bearing the brunt include engineering goods, garments, jewellery, and even shrimp. But key sectors like pharmaceuticals, smartphones and energy have been spared. The US is India's largest export market. Analysts have warned that the latest levies could result in a 0.6% hit to GDP. Rebecca Bundhun reports from Mumbai and Nick Harper reports from Washington DC.
50% US tariffs on many Indian goods are now in effect — a sharp hike from the 25% earlier this month. US President Donald Trump has cited India's purchase of Russian oil, which he says funds the Kremlin's war in Ukraine, as the reason. Sectors bearing the brunt include engineering goods, garments, jewellery, and even shrimp. But key sectors like pharmaceuticals, smartphones and energy have been spared. The US is India's largest export market. Analysts have warned that the latest levies could result in a 0.6% hit to GDP. Rebecca Bundhun reports from Mumbai and Nick Harper reports from Washington DC.
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