Dilip Shanghvi, chairman of India's largest drugmaker Sun Pharma, told an industry gathering last week that his company sells pills for between $1 and $5 per bottle in the US and tariffs "do not justify relocating our manufacturing to the US".

US President Donald Trump has pledged to impose so-called reciprocal tariffs on imports from foes and allies alike from April 2, matching their levies to redress any perceived trade barriers for American companies.