Steep US tariffs on a range of Indian products took effect on Wednesday, threatening a severe blow to India’s overseas trade in its largest export market.US President Donald Trump had initially announced a 25 per cent tariff on Indian goods. But earlier this month, he signed an executive order imposing an additional 25 per cent tariff due to India’s purchases of Russian oil, bringing the combined tariffs imposed by the US on its ally to 50 per cent.The Indian government estimates the tariffs...