Sri Lanka, Aug. 29 -- The United States has dealt a heavy blow to South Asian trade by slapping 50% tariffs on most imports from India, a move expected to hit New Delhi's $86 billion annual exports to the U.S. hard. President Donald Trump said the decision is aimed at cutting India's access to the U.S. market while pressuring it over continued purchases of Russian oil.

Former ambassador to Kenya Kana Kananathan said Sri Lanka can see Both Peril and Promise After U.S. Slaps 50% Tariffs on Indian Imports

With Indian goods such as garments, jewelry, seafood, and carpets suddenly becoming far more expensive for American buyers, experts believe the ripple effects will be felt across the region.

For Sri Lanka, the situation is a mixed bless...