India hopes trade talks with the U.S. will continue even as the U.S. hiked tariffs on its exports to 50% due to New Delhi's purchase of sanctioned Russian oil, two lawmakers said on Monday, citing a briefing to a parliamentary panel on foreign affairs.

Donald Trump has extended a trade war truce with China for another 90 days, two US officials have said, just hours before his Tuesday deadline to steepen tariffs on the world’s biggest exporter. The US president’s move was widely expected because his government has been reluctant to reignite the fierce trade conflict with Beijing that rattled markets in April when US levies on Chinese imports rose up to 145 per cent.