MOSCOW, August 5. /TASS/. Unlike China, India does not have critical export items for the United States, however, the American consumer will feel the disappearance or the rise in price of Indian goods, Chief Economist at the Stolypin Institute for Economic Growth Boris Kopeikin told TASS.
Earlier, the United States said it would soon increase customs duties for India in the coming days due to the country's purchases of Russian oil. American leader Donald Trump said that India is not a good trading partner for the United States because of its high customs duties.
"The country accounts for less than 3% of American imports, and it does not have a critical leverage, such as rare earth materials from China. However, consumer goods such as clothing, medicines, components for them, and electronics are supplied in large volumes," Kopeikin said.
He said these include goods from factories established in India as a replacement for facilities in China.
"The American consumer will quickly feel the rise in the price or disappearance of Indian goods," the expert concluded.