India, July 8 -- US President Donald Trump on Monday announced a fresh round of tariffs on 14 countries, with the highest rate of 40 per cent imposed on Myanmar and the Lao People's Democratic Republic. The new trade measures will take effect from August 1.

The tariffs were outlined in official letters sent to the leaders of the countries and shared by Trump on his Truth Social platform. These letters are part of what he described as "a wave of letters" being issued to US trading partners.In each letter, Trump warned against retaliatory measures, writing, "If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by will be added onto the tariffs that we charge."

He also said the tariffs were...