The 50% tariff system imposed by US President Donald Trump on India will come into effect from 12.01 am on August 27

US President Donald Trump has threatened to impose 50 per cent tariffs on India. The new tariff system will come into effect from 12.01 pm on August 27. Trump's move will pose a challenge to India, the world's fifth-largest economy, in the field of exports. According to a report by economic think tank Global Trade Research Initiative (GTRI), these increased tariffs will affect Indian exports worth $60.2 billion, including textiles, jewellery, seafood, carpets and furniture. In such a situation, China, Vietnam and Mexico will try to gain influence in this market. The implementation of US tariffs is a major trade challenge for India's economy, it said. The US tariffs will affect 66 per cent of India's $86.5 -billion exports to the US, GTRI said. In this situation, a better strategy is needed to maintain India's economic growth. At the same time, the impact on employment and industrial competition will also have to be controlled. During April-July this fiscal, India's total exports to the US rose 21.64 per cent to USD 33.53 billion, while imports rose 12.33 per cent to USD 17.41 billion.