Brief by Shorts91 Newsdesk / 09:17am on 27 Aug 2025,Wednesday Business
The US has imposed 50% tariffs on two-thirds of India’s exports, worth over $60 billion yearly, NDTV reported. President Donald Trump said the move was triggered by India’s purchases of Russian crude and defence supplies. The Global Trade Research Initiative (GTRI) warned that exports in textiles, gems, jewellery, leather, food, carpets, and handicrafts may collapse by up to 70%. Millions of jobs in hubs like Surat, Tiruppur, Agra, and Visakhapatnam are at risk as competitors like Vietnam, China, and Mexico gain ground. However, some sectors, including pharmaceuticals, electronics, and smartphones, remain exempt from the steep tariffs. (PC: NDTV)
