India, Aug. 6 -- Indian shares ended modestly lower on Wednesday after U.S. President Donald Trump said that he would increase the tariffs charged on Indian imports "very substantially" over the next 24 hours because of India's continued purchases of Russian oil.
Trump also said that tariffs on semiconductor and chip imports would be announced as soon as next week to boost U.S. manufacturing and that planned tariffs on pharmaceuticals imported into the U.S. could eventually reach as high as 250 percent.
Investors also reacted to the Reserve Bank of India's rate pause amid rising inflation risks and tariff worries.
After maintaining the repo rate at 5.50 percent, RBI Governor Sanjay Malhotra said the central bank will continue to monitor ...