New Delhi, Sept. 23 -- The big international news in the Indian media this weekend had little to do with the ever-changing situation in West Asia.

Instead, the focus was on US President Donald Trump and tariffs. Trump has signed a new law that empowers him to impose tariffs of up to 100% on goods imported from countries that are the biggest buyers of oil from Russia. China and India are the largest buyers of Russian oil.

The law also gives Trump the discretion to waive the tariffs if he decides it is in the US national interest.

Until India and the US finalize a comprehensive trade deal, we believe this issue will remain a serious headache for market bulls.

Last year, when Trump first imposed tariffs, we wrote extensively about the se...