New Delhi, July 31 -- India's goods trade surplus with the US has doubled over the last decade, rising from $20 billion in 2015 to $40 billion in 2025. Now, that success may come at a steep price.

The latest tariff imposed by US President Donald Trump on India, if fully implemented and combined with existing sector-specific tariffs on products like aluminium, steel and automobiles, could raise the average US import duty on Indian goods to 26.6 percentage points, according to Goldman Sachs Economic Research released on Thursday.

"This would bring the tariffs closer to the original reciprocal levels announced on April 2," the Goldman Sachs Economic Research report said.

The economic research division of the global investment banking majo...