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International Business Times
International Business Times
Business

India Reels From US Tariff Hike Threat

United States India Donald Trump Vladimir Putin
Infographic chart showing the main imports and exports in the US trade with India in 2025 up to end of May, according to the US International Trade Commission (Credit: AFP)

Indian exporters are scrambling for options to mitigate the fallout of US President Donald Trump's threatened tariff salvo against the world's most populous nation.

Many warn of dire job losses after Trump said he would double new import tariffs from 25 percent to 50 percent if India continues to buy Russian oil, in a bid to strip Moscow of revenue for its military offensive in Ukraine.

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