TARIFF TROUBLE Exports to hit hard: Experts

Domestic export sectors such as leather, chemicals, footwear, gems and jewellery, textiles and shrimp will be severely impacted by the imposition of the 50 per cent tariff by US, say industry experts.

- PRESS TRUST OF INDIA

US President Donald Trump Wednesday slapped an additional 25 per cent tariff, raising the total duties to 50 per cent on goods coming from India, as a penalty for New Delhi's continued purchase of Russian oil.

The United States has imposed additional tariffs or penalty for Russian imports only on India while other buyers such as China and Turkey, have so far escaped such measures.

“The tariffs are expected to make Indian goods far costlier in US, with potential to cut US-bound exports by 40-50 per cent,” think tank GTRI said.