China has warned it is "not afraid" of a trade war with the United States, calling instead for dialogue grounded in "equa

Tariffs are a key tool in global trade battles. Countries impose tariffs on imports to protect their local industries, but these measures can have ripple effects on economies worldwide

Despite a 27 per cent tariff, certain sectors in India are exempt, including auto and auto ancillary, which are already subject to a separate 25 per cent tariff announced in March. This means no additional tariffs will be imposed on this sector.