Donald Trump has signed an executive order placing tariffs on dozens of US trading partners just hours before the 1 August deadline he set for deals to be done.
The new tariffs, the next step in his trade agenda that will test the global economy, are set to go into effect in seven days. The extension reflects the government’s need for more time to harmonize the tariff rates, AP reports, according to a senior official who spoke to reporters on condition of anonymity.
The order applies to 68 countries and the 27-member European Union. Rates were set at 25% for India’s US-bound exports, 20% for Taiwan, 19% for Thailand and 15%