Indian businesses are bracing for a turbulent start to the new financial year, as the threat of reciprocal tariffs from US President Donald Trump looms large. Exporters are already feeling the pinch, particularly those dealing in engineering goods, iron and steel, and aluminium products. These sectors are facing a hit on shipments worth $5 billion, as Trump imposed an additional 25% levy. “Pending orders are on hold as American buyers are waiting for price adjustments,” ToI cited Pankaj Chadha, chairman of EEPC India, who is currently in Europe trying to secure new buyers for his company’s stainless steel products.