The tariffs of 10 per cent and 5 per cent take effect on two batches of goods on September 1 and December 15, the official Xinhua News Agency said
International benchmark Brent crude futures were at $58.70 a barrel by 0039 GMT, down 24 cents, or 0.41%, from their previous settlement and trading near seven-month lows
MSCI's broadest index of APAC shares outside Japan edged down 0.3 per cent
While crude prices falling could help to reduce inflation, a delayed monsoon could lead to rising food prices
Apart from direct bets against the rupee, look out for higher export growth
Xi was merely outlining China's strategy to open up further and had nothing to do with trade friction with the US
Even markets such as India, despite low exposure to the US economy and their stock markets, has seen high turbulence
The world is struggling with how to respond to U.S. President Donald Trump, who imposed steel and aluminum tariffs on allies
"I am very concerned because of these measures. this has a very real possibility for escalation, because of the possibility of responses from other partners", said Director-General, WTO
USTR asks for dispute resolution based on schemes ''unfairly benefitting Indian exporters''