Dhaka, Aug. 9 -- Global retail giants including Walmart, Amazon, Target, and Gap have begun suspending ready-made garment (RMG) orders from India following the United States' decision to impose a steep 50percent import duty on Indian products, according to a report by NDTV.
The additional 25percent tariff, announced by President Donald Trump on August 6 as a retaliatory measure over India's continued import of Russian oil, comes on top of a previously existing 25percent duty. This doubling of tariffs has sharply increased the cost of Indian exports to the US, severely disrupting trade flows and diplomatic ties between the two countries.
In a clear response, New Delhi has frozen planned purchases of US weapons and aircraft, and cancelled D...