Trump's Tariff Tsunami: India's Trade Challenge

The ongoing trade standoff between the United States and India has reached new heights under President Donald Trump's administration. Labeling India as the 'Tariff King,' Trump has employed a series of tariff hikes as leverage in negotiations over a proposed Bilateral Trade Agreement.

Recent actions include the imposition of a baseline 10% tariff on Indian imports, with additional country-specific rates. The White House suspended a 16% tariff but later enforced a staggering 50% duty, targeting sectors like steel and aluminum, while exempting pharmaceuticals and energy products.

Impacted sectors, including textiles, shrimp, and machinery, fear significant market losses. Indian exporters forecast a potential 40-50% drop in US-bound shipments, as competitors enjoy lower tariffs. Industry leaders describe these measures as a 'severe setback' and warn of dire economic repercussions.

(With inputs from agencies.)