India says about 55% of its merchandise exports to the U.S. will be hit by President Donald Trump’s latest tariffs, as boycott calls grow against U.S.-based multinationals in the country.
00:00Meanwhile, the Indian government expects around 55% of its merchandise exports to the U.S. will be subject to President Donald Trump's tariffs.
00:09It says the Department of Commerce is engaging with all stakeholders for feedback and to assess the current situation.
00:17Trump imposed an additional 25% tariff on Indian goods last week in response to India's purchases of Russian oil, bringing the total duty to 50%.
00:28Government estimates show goods trade between the U.S. and India totaled US$87 billion in the last fiscal year.
00:35U.S.-based multinationals are now facing boycott calls in India, as business executives and supporters of Prime Minister Nandarindra Modi stoke anti-American sentiment in protest against the tariffs.
00:48Modi had made a special appeal for self-reliance on Sunday, telling a gathering in Bengaluru that Indian technology companies made products for the world.
00:57But now was the time to prioritize the country's needs.
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