He also informed Brazil that its 'reciprocal' tariff on August 1 would rise to 50 per cent from 10 per cent, a shockingly high level for a country with a balanced US trade relationship.

President Trump issued form letters to several nations, including the Philippines and Brazil, citing trade imbalances and, in ...

Goyal said he looked forward to 'fast-tracking discussions with ASEAN member states' on the FTA, which has faced criticism in India over imbalanced trade benefits.