Indian Prime Minister Narendra Modi said on Thursday he will not compromise the interests of the country's farmers even if he has to pay a heavy price, in his first comments after U.S. President Donald Trump's salvo of a 50% tariff on Indian goods.

India hit back, saying the move was “unfair” and “unjustified.”Donald Trump's penalty on India is intended to squeeze Moscow’s oil earnings and push President Vladimir Putin towards a ceasefire. The higher tariffs will take effect in 21 days,

The Indian prime minister has said his country "is ready" to react to President Donald Trump's additional 25 percent levy on goods entering the U.S.