Former RBI Governor Raghuram Rajan has criticised US President Donald Trump's 50 per cent tariff on Indian goods, calling negotiations “hard, with a gun to your head”. The economist also warned of potential long-term geopolitical repercussions of these tariffs for both India and the US.

Trump, who has previously denounced India as a “tariff king”, blamed New Delhi’s purchases of Russian weapons and oil for the additional rate, which puts at risk India’s largest export market, worth $87bn in the year to the end of March.