The US charges high tariffs on several items such as tobacco at 350 per cent, peanuts at 163.8 per cent, footwear at 48 per cent, shoes at 32 per cent
Trade deficits can be a problem when those deficits are due to government borrowing in countries with weak economic and political institutions
Trump administration wants to reduce its $31 billion deficit with India
India's trade ministry is expected to shortly issue a notification that could delay the implementation of the new tariffs by 45 days
The United States and China have been tied-up in a constant bilateral trade war
Argentina, Australia, Brazil, South Korea, Canada, Mexico are the six countries