India is likely to be among the countries worst hit by U.S. President Donald Trump's trade offensive, with tariffs on Indian imports set to surge to 50% if a deal is not struck in three weeks.

The first tranche of tariffs took effect August 7. Together, the two rounds impact nearly all Indian exports to the U.S., excluding only items in transit or under special exemptions.

In an executive order, Trump says "I find that the Government of India is currently directly or indirectly importing Russian Federation oil" and due to those purchases, imports of Indian goods into the United States "shall be subject to an additional ... rate of duty of 25%."