Trump’s 50% tariff shocker has sent the trade circles into a tizzy. Global brokerage Jefferies believes the recent escalation in trade tension between India and the US could strain Indian exports but sees potential for a long-term resolution, provided both sides navigate key political hurdles. “We remain hopeful of an eventual trade deal with the US,” noted the brokerage house. US President Donald Trump has imposed an additional 25 per cent tariff on Indian goods, taking the effective duty to 50 per cent. The US cited India’s continued oil imports from Russia as a reason for the higher tariff, which will come into force from August 27.