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Trump's 50% tariffs in effect on India, set to impact labour-intensive sectors

US President Donald Trump’s fresh 25% tariffs on Indian goods took effect Wednesday, doubling the total duties to 50% after New Delhi stood firm on Russian oil imports. The hike, effective from 9:30 a.m., threatens $60.2B worth of Indian exports, with labour-heavy sectors like textiles, gems, jewellery, shrimp, carpets, and furniture facing shipment drops of up to 70%, putting millions of jobs at risk and clouding growth prospects.

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Video: High drama as cash-filled bags thrown from 9th floor amid Punjab ED raids

Dramatic scenes unfolded during Enforcement Directorate raids across Punjab and Chandigarh as officials searched multiple properties linked to an alleged land and licencing fraud case on Thursday. In Mohali’s Chajju Majra area near Kharar, panic erupted inside a residential society after two bags, allegedly packed with cash, were reportedly hurled from a ninth-floor flat while ED teams conducted searches upstairs.