Indian exporters are bracing for disruptions after a U.S. Homeland Security notification confirmed Washington would impose an additional 25% tariff on all Indian-origin goods from Wednesday, ramping up trade pressure on the Asian nation, Reuters reported.
Indian exports will face U.S. duties of up to 50% - among the highest imposed by Washington - after President Donald Trump announced extra tariffs as punishment for New Delhi's purchases of Russian oil.
The new duties will apply to goods entering the U.S. for consumption or withdrawn from warehouses for consumption from 12:01 a.m. EDT on Wednesday or 9:31 a.m. IST, according to the Homeland Security notice.
The Indian rupee weakened 0.2% to 87.75 per U.S. dollar in early trade, even as the greenback declinedagainst many other currencies. The benchmark equity indexesand were each trading 0.7% lower, according to Reuters.
