Full Weight of Tariffs Slams Into India

“President Trump on Wednesday followed through on his threat to impose a 50 percent tariff on nearly all goods arriving from India, leveling one of his most punitive tariffs at a country with deep ties to the United States,” the New York Times reports.

“The 50 percent rate, half of which is punishment for India’s buying Russian oil, is expected to damage many Indian exporters that collectively employ millions of people. The move could rupture America’s expanding economic relationship with India, where two-thirds of the largest U.S. corporations have offshore operations. The tariff also undermines the stability of billions of dollars of foreign investment in India’s stock market, the world’s fourth largest.”