Washington DC, April 2 -- Following his announcement of sweeping tariffs worldwide, US President Donald Trump said that a 10 per cent tariff will be imposed on all countries, effective April 5.

Additionally, starting April 9, countries with the largest trade deficits with the US will face higher, individualised tariffs.

The White House in a fact sheet titled 'President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security' said, "President Trump is invoking his authority under the International Emergency Economic Powers Act of 1977 (IEEPA) to address the national emergency posed by the large and persistent trade deficit that is driven by t...