In a bid to extract concessions from New Delhi in months-long trade talks, Donald Trump announced that he will impose 25 percent tariffs on Indian exports to the US starting August 1. He also threatened to penalise India for its purchases of Russian oil. In this segment, we explain what the US hopes to achieve with this move – and why India isn't rushing to strike a deal. Meanwhile, the US and South Korea have reached an agreement to lower US tariffs to 15 percent.