AsianFin -- Indian exporters are preparing for a major hit after the U.S. Department of Homeland Security confirmed that additional tariffs of 25% on all Indian-origin goods will take effect from Wednesday.
The move comes after President Donald Trump announced the extra duties in response to India’s increased purchases of Russian oil earlier this month.
Combined with existing levies, some Indian exports could face U.S. tariffs of up to 50%, among the highest imposed by Washington, raising concerns over trade disruptions for the Asian nation.