Indian exporters reel from Washington's tax increases

MUMBAI — Indian exporters are scrambling for options to mitigate the fallout of the United States' threatened tariff salvo against the world's most populous country.

Many warn of dire job losses after US President Donald Trump said he would double new import tariffs from 25 percent to 50 percent if India continues to buy Russian oil.

"At 50 percent tariff, no product from India can stand any competitive edge," said economist Garima Kapoor from Elara Securities.