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Effective August 1, the United States will impose a 25 percent tariff on goods from India. Manoranjan Sharma, chief economist at Infomerics Ratings, pointed out that while India could offset the impact to a limited extent through trade agreements with the UK, the European Union and the Middle East, this move will undoubtedly deliver a significant blow to relevant Indian enterprises – particularly pharmaceuticals, a pillar of India's exports to the U.S.