Mr Sachs emphasised that trade deficits occur when a country, in aggregate, spends more than it produces. He lambasted Mr Trumps understanding of the issue, saying, "It is dramatically wrong and oversimplified to the point of being ridiculous.

By Neha Arora (Reuters) -Indian metals-to-oil conglomerate Vedanta said on Wednesday that U.S. President Donald Trump's doubling of aluminium tariffs to 50% poses a threat to the Indian industry already struggling with surging imports.

US President Donald Trump plans to double tariffs on imported steel and aluminium, affecting global trade dynamics. The UK's exemption contrasts with challenges for India.