Donald Trump plans to impose new tariffs on semiconductor and chip imports to boost US manufacturing. This follows a Commerce Department investigation into the semiconductor market. While smartphones and computers were previously excluded from higher tariffs,

The development comes days after Trump imposed 25 per cent tariff on Indian imports plus an unspecified penalty on India for Russian oil imports.

India defended its energy purchases as essential for national interests and criticized the US for similar trade with Russia while targeting India. India highlighted significant EU-Russia trade and ongoing US imports of Russian products.