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.

US President Donald Trump’s additional tariffs on India will further damage the South Asian nation’s already slowing economy and shrink its gross domestic product by as much as a percentage point, analysts said.

US President Donald Trump doubled tariffs on Indian goods to 50% as a penalty for its purchases of Russian oil, escalating a fight with a key Asian partner and sparking outrage in New Delhi. Most Read from BloombergAll Hail the Humble Speed HumpMayor Asked to Explain $1.