New Delhi, Feb. 19 -- The new tariff plans of US President Donald Trump will lift near-term inflation and hurt growth in the medium term according to a report by Standard Chartered.

The report says importers will pass on the increased tariff costs to consumers thereby raising inflation in the near-term.

"US manufacturing capacity and job market are both tight; hence most tariffs are likely to be passed on to consumers" said the report.

However, the impact on inflation will depend on actual tariff rates imposed on different items, the retaliatory tariff imposed by other countries and adjustments against the US dollar verses the currency of the exporting country.

"Ultimate impact will depend on actual tariff rates, supply disruptions, t...