India ranks as the No. 2 importer of Russian oil since Russia’s invasion of Ukraine in February 2022, behind China, according to one research center.

US President Donald Trump doubled tariffs on Indian goods to 50% as a penalty for its purchases of Russian oil, escalating a fight with a key Asian partner and sparking outrage in New Delhi.

In tech: Trump and Tim Cook, Apple’s chief executive, announced that the company was pledging $100 billion in additional U.S. investment, its latest move to avoid iPhone tariffs. Trump also threatened to impose levies of 100 percent on all foreign-made chips next week unless manufacturers agreed to invest and build in the U.S.