Aug. 27 (UPI) -- The punitive 50% tariffs levied on imports from India by President Donald Trump due to the continued purchase of Russian oil went into effect Wednesday.
The 50% tariffs on India now in effect are among the highest levied on any country by the United States, which could imperil the two nations' trading relationship and raise prices for American consumers.
"We will lose [approximately $24.72 billion] as the first jolt to this tariff, across 10 sectors alone," said Indian National Congress President Mallikarjun Kharge in an X post Wednesday. His message was aimed at Indian Prime Minister Narendra Modi, in which Kharge blamed Modi for not securing a trade deal with the United States.
Kharge also asserted that the tariffs could be a blow to Indian farmers, create "massive job losses" in export-related sectors and impact nearly 1% of India's GDP.
Related
