The US tariff hike of 50 per cent would hit Indian corporates unevenly, with the labour-intensive textiles and gems and jewellery segment expected to see only a moderate impact while pharmaceuticals, smartphones and steel are currently relatively insulated because of exemptions, existing tariffs and strong domestic demand, according to a report on Friday.
However, capital goods, chemicals, automobiles, and food and beverage exports would face the toughest adjustment, the S&P Global report states.
The fallout from a US move to double tariffs on Indian goods -- from 25 per cent to 50 per cent from August 27 -- in retaliation for New Delhi's oil trade with Moscow will not be uniform, in S&P Global Ratings' view. This will be the highest tariff in the region and will affect 50 per cent-60 per cent of India's total exports to the US.