Indian exporters are bracing for a sharp decline in orders from the United States after trade talks collapsed and Washington confirmed that steep new tariffs on the South Asian nation’s goods would take effect from Wednesday, escalating tension between the strategic partners.

An additional 25 per cent duty announced by President Donald Trump, confirmed in a notice by the Homeland Security Department, takes total tariffs to as much as 50pc, among Washington’s highest, in retaliation for New Delhi’s increased buying of Russian oil.

“The government has no hope for any immediate relief or delay in US tariffs,” said a commerce ministry official, who sought anonymity for lack of authorisation to speak to the media.

Exporters hit by tariffs would receive financial assistance and be encouraged to diversify to alternative markets such as China, Latin America and the Middle East, the official added.

However, the commerce ministry did not immediately respond to an email seeking comment on the latest notice.

The new duties will apply from 12:01am EDT on Wednesday (9:31am IST), it showed. Exceptions are shipments in transit, humanitarian aid and items under reciprocal trade........

© Dawn Business