00:00U.S. President Donald Trump's steep tariffs on Indian imports went into effect earlier this
00:05Wednesday. A 25% tariff imposed because of India's purchase of Russian oil comes on top
00:11of an earlier 25% levy. As a result, many Indian exports to the U.S., such as clothing,
00:18jewelry, footwear, sporting goods and chemicals, are now facing a 50% tariff, which is among the
00:25highest rate imposed by Donald Trump and is on par with Brazil and China. Well, the U.S. is India's
00:33largest export market. Last year, the Asian nation traded products worth $87 billion for its part.
00:40Consumers in India purchased American goods worth $41 billion. The U.S. buys Indian textiles,
00:47furniture, IT services and pharmaceuticals, while India receives aircraft, microchips and some of
00:53its oil from the United States. India imports nearly all of its crude. 35% of it comes from
01:01Russia. And this is President Trump's reasoning behind the tariff hike. He's accused India of
01:07fueling the Russian war machine in Ukraine. Let's bring in Garima Kapoor. She's an executive
01:13vice president at Alara Securities. She joins us from Vienna. Thank you for your time today.
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