Jefferies Reports Links Tariffs On India To Trump’s Personal Frustration
Investment bank Jefferies reports that the U.S. decision to impose 50% tariffs on Indian goods stems largely from President Trump’s “personal pique” over being denied a role in mediating the India-Pakistan conflict. The unprecedented tariffs are seen as a reaction to that frustration.
Economic Cost To India Projected At $55–60 Billion
Jefferies’ strategist Chris Wood, calling the tariffs “draconian,” warns they could cost India between $55 and $60 billion. Key export sectors such as textiles, gems, footwear, and jewelry may face severe damage, hitting small exporters especially hard.
Trade Strain Amid Larger U.S.–India Tensions
The 50% tariffs—comprising a 25% “reciprocal” duty plus a 25% additional penalty tied to India’s Russian oil imports—have heightened bilateral tensions. These levies affect a broad array of Indian products and threaten strategic cooperation between the U.S. and India.
