India is bracing for a steep blow to its overseas trade as US tariffs on a range of Indian products come into effect from Wednesday.
The move threatens a little over half of India’s exports to its world’s largest market and this underscores the fragility in trade relations between the two countries. President Donald Trump had initially imposed a 25% tariff on India.
However, early this month he imposed an additional tariff of 25 % on India for purchasing Russian oil. India hasn’t retaliated formally, or named Trump in any of its criticism.
But Prime Minister Narendra Modi in his public speeches has made it clear that interests of farmers and dairy workers will be utmost for his government.
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