India has to be prepared for higher tariffs in the Trump regime and slower global export growth, which will present challenges, chief economic advisor (CEA), V Anantha Nageswaran said. Exports is not an effective engine for growth because global trade is projected to slow and US tariffs may make it more challenging, Nageswaran said at the SBI Banking & Economics Conclave. “At this stage it is difficult to give quantifiable answers on Trump tariffs. We know that India has a bilateral trade surplus with the United States both in goods and services so there will be pressure, but some of it also work to our advantage because in some of those areas we may have to reduce some duties to be competitive as well. So I don’t think it would be necessary for us to assume that it will be negative for India and right now we don’t have orders of magnitude I don’t think we should be too exercise about various scenarios and building theoretical constructs as to how much it will impact export growth,” Nageswaran said.