Trump’s India tariffs take effect, nearly half of $87.3 bn of exports under 50% levy

Trump’s India tariffs take effect, nearly half of $87.3 bn of exports under 50% levy

The calculation behind the tariff math is 25 per cent taxes plus a 25 per cent penalty that has been imposed in response to “threats to the United States by the government of the Russian Federation”, and penalises India for buying Russian oil directly or indirectly

Representational image. File image/Reuters