00:00We begin today in South Asia, where the 50% tariff imposed by President Donald Trump on India has officially come into effect.
00:07Earlier this month, Trump imposed an additional 25% tariff on India, citing New Delhi's purchase of Russian oil.
00:13He already levied a 25% duty consistent with his announcements for other nations,
00:18but this move has escalated tensions between the two nations,
00:22which in recent years have emerged as strong partners in the Indo-Pacific region.
00:26Now, India finds itself among countries paying the highest U.S. duty rates alongside Brazil and China.
00:34And with the latest round of tariffs, the Trump administration seeks to punish New Delhi for importing Russian oil,
00:39which Washington says supports Moscow's war efforts.
00:43Now, India has pushed back exposing Western hypocrisy in their own trade with Russia.
00:49Both nations have held multiple rounds of trade negotiations, but no significant breakthroughs have emerged.
00:54Experts estimate that tariff hikes could affect nearly 55% of India's $87 billion exported to the U.S.,
01:04but the burden will not fall solely on New Delhi.
01:07American consumers also are likely to feel the impact,
01:11as India exports a range of essential products to the United States.
01:15Prices for textiles and apparel, including T-shirts, knitwear, and woven items, are expected to rise.
01:21Gems and other precious metals from India will also most likely become more expensive.
01:26Footwear, leather goods, carpets, and handcrafts may also get expensive in the coming days.
01:32Agricultural products such as rice, tea, and spices may also likely see higher prices as well.
01:38Additionally, Indian shrimp products may also cost more.
01:41Furniture and home linen imported from India will be subject to the same pressures.
01:45In fact, according to reports, U.S. GDP growth could be reduced by as much as 40 to 50 basis points as a result of these duties.
01:54Even local leather exporters say the impact will fall mainly on American consumers.
01:5950% tariff, looking at our neighboring countries, Bangladesh at 20% and Vietnam at 20%,
02:11then definitely there will be a change.
02:14On 50%, we will be only serving the niche market.
02:18Now, President Trump had previously promised billions in revenue for the U.S. Treasury,
02:36but economists warn of the inflationary pressure to consumers.
02:40In fact, several U.S. companies are already raising prices to offset the tariff impact.
02:46But for India, analysts estimate a slowdown in GDP growth of 0.2 to 0.4 percentage points in the 2025-26 fiscal year.
02:55Now, the increased tariffs also put hundreds of thousands of jobs at risk across manufacturing hubs in the country.
03:01But New Delhi has been pushing hard against that impact,
03:05with Prime Minister Narendra Modi making a promise to cut taxes and urging self-reliance,
03:11emphasizing the purchase of locally made goods.
03:13और्याट पाल्येश्ट के वहांड़ोंने च Kings किनेता ty निर्या ऊनियें
03:30कियारे अट्स सब्समानिकों आपक्या रिधे और नियाने 10 चास्पोना रिफ़ांट्ध मुद्ध्य कर सब्सक्राइ किम
03:41Now, India is also encouraging exporters to diversify into markets in China, Latin America,
04:04Africa and West Asia.
04:06So as Americans face higher prices on Indian products, India stands strong, turning challenges
04:11into opportunities and showing that the world's largest democracy sets its own course.
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