US President Donald Trump has implemented a 50 percent tariff on India to import oil from Russia. In addition to Trump, India’s economy is feared to be shocked. Apart from this, the effect of this tariff can be seen on those sectors of India, in which millions of people are working.

According to Chris Wood, the global head of Jefferies’ equity strategy, the additional 50 percent tariff implemented by US President Donald Trump on India has fallen like a sky lightning on the sector of India’s textile industry, footwear, jewelery and precious gems.

Trump’s tariff will affect which sectors in India,

Chris Wood said in a report, ‘Trump’s move taken by Trump can hurt India’s economy around $ 55 to 60 billion and this could show the most negative impact on India’s textile, footwear, jewelery and gemstone market. Millions of people work in all these sectors of India, whose employment can also be affected.

He said, “The rigorous tariffs that India is facing is the result of a series of many unexpected events and the situation deteriorated further when US President Donald Trump did not fulfill his promise to end the Ukraine war.”

Trump did not get a chance to get mediation in India-Pakistan struggle

Chris Wood believes that this tariff of America is partially associated with politics and the economy. This huge tariff is associated with Trump’s personal resentment that he did not get a chance to arbitrate after four days of struggle between India and Pakistan in May. India has always rejected the intervention of any third party in the case with Pakistan and somewhere the ambition of Donald Trump’s Nobel Peace Prize has remained incomplete for this reason.

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