Donald Trump Tariffs News Highlights: US unleashes revised global tariffs- Trade deficit, security cited in executive order; 68 countries, 27-member EU face hikes

Donald Trump Tariffs News Highlights: US President Donald Trump has signed an executive order for new tariffs on almost 70 countries which is set to go into effect in 7 days. The list includes India which will have to pay a 25% tariff effective 7 days from now. Earlier Trump had announced that India's tariff rate would be effective August 1, but the Executive order signed for 69 countries - with India on the list - says the new tariff rates will be applicable from August 7.He has imposed a 25% tariff on India with an additional unspecified penalty for India’s trade with Russia for defence equipment and crude oil. According to White House economic adviser, Trump is frustrated with the lack of progress on trade deal talks with India. He said that Trump sees the 25% tariff and penalty as a ‘remedy’ to help finalise a trade deal. Donald Trump administration officials have also said that India's purchase of Russian oil is an 'irritant' in India-US ties.How do these new tariffs impact India, which sectors will be hit, and what has been India’s response so far? What tariff rates are other countries facing? Track TOI’s Live coverage on Trump’s tariffs for the latest: