US tariffs come into effect, govt seeks to mitigate impact

The 50 per cent tariffs imposed on most imports from India to the United States came into effect on Wednesday.

- STATESMAN NEWS SERVICE New Delhi, 27 August

Economists have warned that the tariffs could inflict significant damage on the Indian economy and further disrupt global supply chains.

Exporters said shipments and even production are currently on hold. According to trade estimates, the move will impact at least Rs45,000 crore worth of Indian exports.

Exporter groups estimate the tariffs could affect nearly 55 per cent of India's $87 billion in merchandise exports to the US, while benefiting competitors such as Vietnam, Bangladesh and China.