Trump's 50% tariffs on India over Russian oil purchases take effect
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NEW DELHI — Steep U.S. tariffs on a range of Indian products took effect Wednesday, threatening a serious blow to India’s overseas trade in its largest export market. President Donald Trump had initially announced a 25 percent tariff on Indian goods. But earlier this month he signed an executive order imposing an additional 25 percent tariff due to India’s purchases of Russian oil , bringing the combined tariffs imposed by the U.S. on its ally to 50 percent. 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 unviable, triggering job losses and slower economic growth. India-U.S. trade relations have expanded in recent years but remain vulnerable to disputes over market access and domestic political pressures. India is one of the fastest-growing major global economies and it may face a slowdown as a result. Estimates by New Delhi-based think tank Global Trade Research Initiative suggest labor-intensive sectors such as textiles, gems and jewelry, leather goods, foodWeiter zum vollständigen Artikel bei Korea Times
Quelle: Korea Times
