An ETF that tracks stocks in India is struggling to rebound from its recent losing streak, after President Trump imposed 25% tariffs on the country — and then threatened even steeper levies.

India’s government is scrambling to contain the economic fallout from President Trump’s threatened tariff action.

U.S. President Donald Trump said on Tuesday he would increase the tariff charged on imports from India from the current rate of 25% "very substantially" over the next 24 hours, in view of New Delhi's continued purchases of Russian oil.