New Delhi, April 5 -- US President Donald Trump announced sweeping reciprocal tariffs on nearly all US trade partners on Wednesday, including a 26% tariff on India. Meanwhile, the government offered another lifeline to debt-ridden Vodafone Idea by converting some of the company's dues into equity.

Unveiling his 'Liberation Day' reciprocal tariffs, US President Donald Trump announced a baseline tariff of 10% on all US imports, with specific reciprocal tariffs on nearly all of its trade partners, effective 9 April.

India has been slapped with a 26% reciprocal tariff, lower than many Asian peers such as Vietnam (46%) and China (34%). Higher reciprocal tariffs on India's emerging market peers could give the country a competitive advantage. ...