India, July 31 -- Indian shares fluctuated before ending lower on Thursday as U.S. President Donald Trump imposed a 25 percent tariff on India starting August 1, along with an additional unspecified penalty for buying oil and defense equipment from Russia.
Analysts said the move will hurt a spate of sectors - from makers of electronics and generic drugs to jewelry and auto component firms.
Trump also criticized India-Russia ties, announced a Pakistan oil deal and imposed sanctions on six Indian companies for importing oil and petrochemical products from Iran, potentially derailing ongoing trade negotiations.
Trump said he does not care about India's trade dealings with Russia and that the two "can take their dead economies down together"...