India, Aug. 29 -- The fifty per cent tariffs imposed by the United States on Indian goods are largely a result of President Donald Trump's "personal pique" at not being allowed to mediate in the India-Pakistan conflict, according to a report by American multinational investment bank and financial services company Jefferies.

"Tariffs (on India) are primarily the consequence of the American president's 'personal pique' that he was not allowed to play a role in seeking to end the long-running acrimony between India and Pakistan," the report said.

"India has never accepted third party intervention in its relations with Pakistan and this remains a "red line" despite the economic costs of depriving the 47th American president of one of his op...