US President Donald Trump’s 25% tariff on Indian exports from Aug. 1 is expected to hurt a spate of sectors — from makers of electronics and generic drugs to jewelry and auto component firms.

The president also touted agreements over hundreds of billions of dollars in foreign investment into the United States.

India and the US have held several rounds of negotiations for a trade deal over the past few months, with Delhi even reducing tariffs on goods like Bourbon whiskey and motorcycles to placate the US. But the US runs a $45bn (£33bn) trade deficit with India, which Trump is keen to reduce.