India, April 2 -- Donald Trump's Liberation Day is finally here, after months of warnings and concerns around his another round of tariffs announcement.

In the wake of what is expected to be the largest unilateral increase in tariffs since the Cuban embargo of the 1950s, some nations rushed to sign last-minute agreements, while others are looking for methods to revamp their supply chains, frequently by bringing themselves closer to the US's competitors.

Trump's last year presidential campaign focused heavily on trade and tariffs, which are central to his plans to boost the US economy.

Moreover, Trump administration made dramatic statements during rallies and speeches proposing blanket tariffs of up to 60% on US competitors like China, ...