‘Draconian tariffs’: Chris Wood sees $55-60 billion hit for India; calls it Trump’s ‘personal pique’
Friday, 29 August 2025 () US tariffs on Indian goods, including penalties for Russian oil, could cost India $55-60 billion, impacting textiles, footwear, and jewelry sectors, according to Jefferies' Chris Wood. He believes the tariffs are triggered by Trump's frustration at being exclusion from India-Pakistan mediation and irritation over the Ukraine conflict.
President Trump has imposed 50% punitive tariffs on India, accusing New Delhi of “funding Russia’s war machine” through increased oil imports from Moscow. The move threatens $48.2 billion worth of Indian exports, with SBI warning of a 0.3–0.6% GDP hit. Prime Minister Narendra Modi has refused...
California Governor Gavin Newsom has clashed with President Trump over the deployment of the National Guard in Los Angeles, calling it unnecessary and politically motivated. In a live address, Newsom..
Russia unleashed a massive overnight aerial assault on Ukraine, striking Kyiv and other cities far from the frontlines. Ukrainian officials said nearly 600 drones and missiles, including Kinzhal..
Russia has announced the first successful use of a naval drone in the Ukraine war, claiming it sank the Ukrainian reconnaissance ship Simferopol in the Danube Delta. Moscow released dramatic footage of..
Friday, 29 August 2025 ()
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