Brief by Shorts91 Newsdesk / 12:36pm on 27 Aug 2025,Wednesday Business
President Donald Trump’s new tariffs on Indian exports to the United States took effect on Wednesday, raising duties to 50%. The move, called a “penalty” for India’s Russian oil purchases, has hit key sectors. Gems and jewellery, textiles, auto parts, and seafood exports face major losses. Surat’s diamond industry and shrimp farmers are already reporting disruptions. Auto parts worth over $6 billion are also impacted. However, smartphones, pharmaceuticals, and renewable energy have been spared for now. India rejected the tariffs as unfair and said its oil imports are based on national energy security needs for 1.4 billion citizens. (PC: HT )
