America has removed a 25% tariff on Indian goods. This follows India's promise to stop buying Russian oil. President Trump announced the tariff reduction after speaking with Prime Minister Modi. India will now buy oil from Venezuela and the United States instead.

Tariffs are among the defining policies of President Donald Trump’s second term. CNN is tracking their impact on the US economy and American consumers.

President Trump is an avowed supporter of tariffs, but many experts say such trade measures can boost inflation.

Several large American manufacturers are thriving despite the threat of higher costs. Smaller ones are struggling.

The approach favoured by Mr Trump is for firms to start making things in America. Even if this happened at scale, which will not happen until the his tariff policy becomes predictable enough for businesses to make investment decisions, it would mean America needs less stuff from abroad—and generate less in tariffs.

The president says the move is in response to Canada delaying certification of U.S.-made Gulfstream jets.

Prime Minister Narendra Modi’s plan to protect India’s economy from Donald Trump’s tariffs is coming into sharper focus.

India's stock market soared on Tuesday after President Donald Trump cut reciprocal tariffs on Indian goods to 18% from 25% as India agreed to stop buying Russian oil. Trump said Indian Prime Minister Narendra Modi agreed to buy "much more" oil from the U.