At the same time, the US has imposed a 10% tariff on certain products from all countries through executive orders, and the government is studying its implications for Indian exports.
Democrats assume that US households will absorb 100% of the tariff cost. They cite a Congressional Budget Office report concluding that importers can pass along 70% of the tariff costs to consumers.
The Supreme Court last month struck down Trump's country-specific tariffs, which he imposed on allies and competitors alike, delivering a stinging rebuke of his signature economic policy.
