New Delhi, Aug. 27 -- 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. Officials have warned the new duties could make shipments to the U.S. commercially ...
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