Trump hits India with punishing 50% tariff

U.S. President Donald Trump's doubling of tariffs on imports from India to as much as 50% took effect as scheduled on Wednesday.

This comes just weeks after Trump instituted a new 25% baseline tariff on Indian goods. 

The U.S. move takes total duties to as high as 50% for goods such as garments, gems and jewellery, footwear, sporting goods, furniture and chemicals - among the highest imposed by the U.S.

American firms and consumers are already seeing higher costs resulting from Trump’s tariff campaign while the health of the labor market has deteriorated.

New Delhi signaled it would retaliate against Trump’s tariffs earlier this month, when Trump initially vowed to impose what he referred to as “secondary sanctions.”