NEW DELHI, (PTI):- US President Donald Trump’s announcement to impose a sweeping 25 per cent tariff plus penalty on India from August 1 will be a big blow to the country’s exports and adds a fresh layer of uncertainty, exporters said on Wednesday.

They said that in the absence of clarity on the penalty’s scope, Indian exporters and US importers are unable to accurately calculate landed costs or plan how to absorb the elevated tariff burden.

“The announcement by Trump…comes as a big blow for India. With US being one of the key export destinations, this will severely impact the sectors like gems and jewellery that are heavily dependent on exports and is one of the biggest contributors to the economy of the country,” Kama Jewelry MD Colin Shah said.