India, Aug. 1 -- President Donald Trump on Thursday announced a broad set of new tariffs, including a 10% global minimum rate and elevated duties of 15% or more for nations running trade surpluses with the United States.

In a move ahead of a Friday trade deal deadline, Donald Trump imposed steep tariffs on dozens of trading partners - including 35% on many Canadian goods, 50% on Brazilian exports, 25% on Indian products, 20% on Taiwanese goods, and 39% on items from Switzerland.

The new tariffs, laid out in an executive order, range from 10% to 41% and are set to take effect in seven days. They apply to 69 trading partners (68 nations + European Union), with some having negotiated tariff-reducing deals and others given no opportunity to...