An ETF that tracks stocks in India is struggling to rebound from its recent losing streak, after President Trump imposed 25% tariffs on the country — and then threatened even steeper levies.

India’s government is scrambling to contain the economic fallout from President Trump’s threatened tariff action.

Donald Trump has said he plans to “substantially” raise tariffs on imports from India because of its purchases of Russian oil, in a new escalation of tensions between Washington and New Delhi. The US president’s warning comes after India failed to reach an agreement with the White House to secure lower levies on its exports to America last week,