“electronics and pharmaceuticals exempted”
LOL
You did well to laugh.
India’s surplus with the US is $41B/yr. That’s the combination of India exports and India imports.
Of that $41B, $8B is pharmaceuticals and $2B is electronics.
Exempting those means that only $31B of surplus is in play here to be tariffed.
Well, here’s the bad news. India’s GDP is $3.78T. It’s growth last year was 6%. Q1 2025 it was 7%.
If the entire remaining $31B of surplus got erased, it would be about < 1% of GDP. Nobody’s bones are going to break when doing 7% growth and having 1% yanked.