India, US to lose from Trump tariffs
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A relationship frozen after a deadly clash high in the Himalayas five years ago appears to be thawing under the heat of Washington’s economic pressure.
The levies — imposed, in part, to pressure Russia to end its war on Ukraine by punishing one of its largest oil buyers — are likely to inflame tensions between the U.S. and India.
As punishment for buying Russian oil, President Trump is doubling the tax on goods imported from India, jeopardizing a relationship decades in the making.
The textile industry appears particularly vulnerable under these tariffs. With a 50% duty, India's competitive edge in products like cotton bedlinen and jerseys could diminish, benefiting competitors such as Bangladesh and Vietnam. Companies like Gokaldas, Indo Count, and Welspun Living rely heavily on the US market for their revenue.
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India is bracing for a sharp blow to its overseas trade as steep U.S. tariffs take effect on a range of Indian products Wednesday — a move that threatens over half of India’s exports to its largest market and highlights the fragile trade ties between the two countries.