New Delhi, Aug. 6 -- The tariffs recently announced by the US could have a severe impact on India's exports to the US. The tariffs are expected to make Indian goods far more expensive in the US, with the potential to cut America-bound exports by 40-50 per cent, think tank Global Trade Research Initiative (GTRI) said on Wednesday.

The White House said earlier that the measures are imposed in response to India's continued purchase of Russian oil, as reported by PTI.

On August 6, Washington announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per cent duty, taking the total to 50 per cent from August 27. These new 'reciprocal' tariffs come with their own set of consequences:

Adding to the consequences...