Further tariff hike by US on India may hit exports

PUNITIVE LEVY

- PRESS TRUST OF INDIA

ANY MOVE BY the US to further increase tariffs or import duties on Indian goods could severely impact the country's exports to Washington, experts said.However, they said, it may also push exporters to accelerate diversification and de-risk their overseas markets.

US President Donald Trump, speaking to reporters on Sunday, said that Prime Minister Narendra Modi knew he was unhappy with India's purchases of Russian oil and that Washington could raise tariffs on New Delhi "very quickly".The experts added that as the tariff threat hardens, India must take a 'clean call' on Russian oil.