The Trump administration has clarified that its new tariffs won't apply to goods already on ships heading to the US before 12:01 am New York time on Thursday, according to report from Bloomberg. The updated rules outline how higher tariffs will roll out and some goods won't be affected by the new US tariffs.

US President Donald Trump’s tariff shock on India is complicating the central bank’s interest rate decision Wednesday, with some economists bringing forward their expectations for easing.

Russia is one of India’s top oil suppliers and trade partners, contributing to around 35% of the country’s total supplies.