Steven Miran, Trump’s head of the Council of Economic Advisers, wrote a paper defending tariffs and arguing that tariffs are borne by foreign producers and that the rise in the dollar reduces the cost to Americans.

India's trade surplus with the US and its reliance on American trade policy for US dollar earnings make it a key player.

Connecticut-based international trade experts say President Trump's use of tariffs are likely to be more of a bargaining tool, except in the case of China.

However, Trump's threats have changed over time, ranging from small levies to ones exceeding 200%, leaving other nations and businesses unclear of what is to come next. Here is a roundup of Trump's trade-related threats.

Trump has threatened still more tariffs, proposing 25% on goods from Mexico and Canada, an additional 10% on China and 25% on Colombia after that country initially refused deportation flights from the U.