Tariffs on Indian exports to the United States will surge to 50 percent by late August, as part of an effort by President Trump to pressure Russia into resolving its war in Ukraine.

Indian Prime Minister Narendra Modi said on Thursday he will not compromise the interests of the country's farmers even if he has to pay a heavy price, in his first comments after U.S. President Donald Trump's salvo of a 50% tariff on Indian goods.

President Donald Trump on Wednesday announced sweeping and substantial tariffs on India, one of America’s most important trading partners. In addition to a 25% tariff that is set to go into effect Thursday,