New Delhi, April 14 -- Chief Economic Advisor V Anantha Nageswaran has a warning about Donald Trump's tariffs. According to India's top economic expert, the Trump tariffs do not have one simple effect, but is more layered. The reciprocal tariffs are expected to have first, second and third round effects, the CEA said, adding that these factors will have impact on growth.

One needs to look at the first round, second round and third round effects, Nageswaran said in an interview with The Indian Express.

"It is not just the exports to the United States, but to what extent you are able to absorb and to what extent the consumers are able to absorb in the US. Is there a combination of the two that works? That is one part," he said.

The secon...