On Tuesday, US President Donald Trump announced that he was contemplating a significant increase in tariffs on Indian imports within the next 24 hours due to India's procurement of Russian oil. Trump remarked in a CNBC interview that India has not been a favourable trading partner, pointing out that while India conducts extensive trade with the US, the US does not reciprocate. He added that although the tariff was initially set at 25 per cent, he expected to increase it substantially within a day due to India's purchase of Russian oil. "India has not been a good trading partner, because...