President Donald Trump on Wednesday announced sweeping and substantial tariffs on India, one of America’s most important trading partners. In addition to a 25% tariff that is set to go into effect Thursday,

Trump has now imposed a total of 50% tariffs on goods imported from India, and his earlier threat of levying an extra 10% for the country's membership in the Brics grouping, which includes China, Russia and South Africa as founding members, still stands.

Indian Prime Minister Narendra Modi struck a defiant tone in the face of US President Donald Trump’s tariff threats, urging the nation to buy local goods as his administration signaled it would continue buying Russian oil.