Trump's 50% Tariff on India Takes Effect: What It Means for Economy and Businesses | Spotlight |N18G
Trump's 50% Tariff on India Takes Effect: What It Means for Economy and BusinessesUS President Donald Trump's 50% tariff on India has officially come into effect, targeting nearly $87 billion of exports over New Delhi's purchase of Russian oil. Key sectors such as textiles, apparel, leather, handicrafts, gems, jewellery, agriculture, seafood, machinery, and furniture face higher US duties, while 30% of exports, including pharmaceuticals, electronics, IT, and petroleum, are expected to remain duty-free. Experts warn of potential GDP slowdown and job risks, but India is proactively mitigating the impact through tax relief, self-reliance initiatives, and reportedly encouraging market diversification to Latin America, Africa, and West Asia. Watch to know more.
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