President Trump argues that tariffs up to 50% on foreign imports will benefit the US economy, claiming that high tariffs will attract companies to manufacture domestically.

Speaking to reporters in the Oval Office, Donald Trump on Wednesday indicated he had received inputs suggesting India plans to lower tariffs on certain goods.

The U.S. reciprocal tariffs on China are set to cause major disruptions to global supply chains, forcing American companies to explore alternative suppliers. Electronics is one of the key sectors for India to gain with India's exports valued at nearly USD 14 Bn.