India hopes trade talks with the U.S. will continue even as the U.S. hiked tariffs on its exports to 50% due to New Delhi's purchase of sanctioned Russian oil, two lawmakers said on Monday, citing a briefing to a parliamentary panel on foreign affairs.

US President Donald Trump had imposed a 25% levy against Indian imports at the beginning of August --- vowing to add an additional 25% later this month for its continued purchase of Russian oil.

According to the finance ministry, the impact of the US’ tariffs on India’s exports will depend on a combination of different factors such as product differentiation, demand, quality, and contractual arrangements.