‘Draconian tariffs’: Chris Wood sees $55-6bn hit for India

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. 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.