FinMin: Trump tariffs' immediate impact limited, ripple effects a worry

With the steep 50 per cent American tariffs on Indian goods kicking in, the Union Finance Ministry has said the immediate impact on Indian exports may appear limited, but their secondary and tertiary effects on the economy will pose challenges that must be addressed.

- STATESMAN NEWS SERVICE New Delhi, 28 August

Notably, the steep 50 per cent tariff on Indian goods entering the US would impact exports worth more than USD 48 billion. The sectors that would bear the brunt of the high import duties imposed by the Trump administration include textiles/clothing, gems and jewelry, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery.