(Reuters) -Shares of Indian pharmaceutical companies slid 2% on Wednesday after U.S. President Donald Trump said he intends to impose tariffs of about 25% or higher on pharma imports. Seventeen of the 20 stocks on the sub-index traded lower,

India’s top officials said they will continue to cut import taxes as the government looks to work around US President Donald Trump’s plan to impose reciprocal tariffs on trading partners.

President Donald Trump’s shift in policy to reciprocal tariffs is a relief to markets, U.S. consumers and most trading partners.

U.S. President Donald Trump's threat to impose reciprocal tariffs from early April is feeding anxiety in India's export sectors from autos to agriculture, with Citi Research analysts estimating potential losses at about $7 billion a year.

After steel and aluminium, US President Donald Trump has announced targeted tariffs on automobiles, semiconductors, and pharmaceuticals

President Donald Trump and Indian Prime Minister Narendra Modi held a joint news conference as the two leaders work toward a trade deal and try to reinforce a relationship. Earlie

With tariffs on imports averaging 14%, India is especially vulnerable to the reciprocal levies Trump says he will impose on some countries.

TRUMP'S TREASURY SECRETARY SHUTS DOWN ANY TARIFF CONCERNS, PRAISES ‘FRICTIONLESS GLOBAL TRADE’ Trump has been busy pursuing other tariffs since taking office as well. He inked

"It will be 25% and higher, and it will go very substantially higher over a course of a year," Trump said on Tuesday.