India’s Refiners, Apparel Makers Most at Risk From 25% US Tariff

US President Donald Trump’s 25% tariff on Indian exports from Aug. 1 is expected to hurt a spate of sectors — from makers of apparel and generic drugs to jewelry and auto component firms.

India’s tariffs were “among the highest in the World,” Trump said in a post on the Truth Social platform on Wednesday, with the country imposing “the most strenuous and obnoxious non-monetary Trade Barriers of any Country.” He also threatened an additional penalty due to the country’s energy purchases from Russia.

Indian stocks and rupee opened lower Thursday following the announcement. The benchmark NSE Nifty 50 ...