U.S. President Donald Trump issued an executive order on Wednesday imposing an additional 25% tariff on goods from India, saying the country directly or indirectly imported Russian oil.The additional tariffs mean India will face the highest levy
U.S. President Donald Trump issued an executive order on Wednesday imposing an additional 25% tariff on goods from India, saying the country directly or indirectly imported Russian oil.
The additional tariffs mean India will face the highest levy along with Brazil, putting it at a significant disadvantage against regional competitors such as Vietnam and Bangladesh.
The tariffs are scheduled to kick in 21 days from the date of the executive order.
BRIAN JACOBSEN, CHIEF ECONOMIST, ANNEX WEALTH MANAGEMENT, WISCONSIN
There may be more symbolism than substance to the extra 25% tariff on imports from India. The duty does not come into effect for 21 days. That’s quite a wide window to provide an off-ramp.
There are also a lot of exceptions where it might be easier to specify which goods the tariffs apply to rather than those that are excemted. That could explain why the market didn’t respond much to the announcement.
COLIN SHAH, MANAGING DIRECTOR, KAMA JEWELRY
The additional duty imposition of 25% to the existing tariff is unfortunate and a major blow to the overall Indian exports ecosystem, especially the gems & jewellery sector. As a result, this will lead to a sharp rise
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