As Trump unleashes tariff tirade on India over Russian oil, who gains at New Delhi’s expense?

As Trump unleashes tariff tirade on India over Russian oil, who gains at New Delhi’s expense?

With 50% tariffs imposed by US President Donald Trump, analysts predict that Indian exports could shrink by up to 45%, representing an annual loss of around $35-45 billion. Here is the breakdown of which countries will gain at India’s expense.

US President Donald Trump meets Indian Prime Minister Narendra Modi at the White House in Washington, DC, US, February 13, 2025. (Photo: Kevin Lamarque/Reuters)