Jefferies strategist Chris Wood slammed Donald Trump’s 50% tariffs on Indian goods — including a penalty for Russian oil buys — as “draconian,” warning of a $55–60 billion hit to India’s economy. Labour-intensive sectors like textiles, footwear, jewellery, and gems face the brunt. Wood said Trump’s move reflects “personal pique” over India blocking U.S. mediation in Pakistan tensions.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets