New Delhi: After Donald Trump imposes new tariffs Global rating agency Moody’s has warned that several industries in South and Southeast Asia will be affected. A recent report by the agency states that companies in the automotive steel chemicals and business services sectors are the most susceptible to these trade policy changes. It is important to note that the United States will impose reciprocal tariffs targeting countries with large trade deficits such as India starting April 2. Moody’s noted that this could put major Indian businesses at risk. Business-services firms may not be directly impacted by tariffs but they could face challenges due to stricter U.S. immigration policies. Indian IT giants like Tata Consultancy Services (TCS) Infosys and Hexaware Technologies rely heavily on skilled Indian professionals on H1B visas for long-term projects in the US. In 2023 nearly 75 percent of H1B visas were granted to Indian nationals according to a report. To mitigate risks these companies have ramped up hiring within the US. However rising costs and visa restrictions could continue to pose challenges. TCS and Infosys are in a strong position to handle rising costs because of their high profitability according to Moodys. On March 17 Infosys shares were trading at Rs 1588 while TCS shares dropped 0.48% to Rs 3494. Hexaware Technologies’ stock remained steady at Rs 471. In the steel and chemicals sectors the US tariffs are expected to have minimal direct impact as companies like Tata Steel and PTT Global Chemical earn most of their revenue from Asia.