AFTER saying for months that a trade deal with India was around the corner, US President Donald Trump imposed a 25 per cent tariff on its Indo-Pacific partner, and then doubled it in less than a week. The reason, he said, was that India was buying Russian oil, even though he left out China, which buys more Russian oil than us.

President Trump signed an executive order on Monday to delay steep tariffs against China for another 90 days, extending the trade truce between the two countries to continue negotiations. CBS News' Ramy Inocencio has more details.

Reaching a pact with China remains unfinished business for U.S. President Donald Trump, who has already upended the global trading system by slapping double-digit taxes – tariffs – on almost every country on earth.