India, July 7 -- US President Donald Trump is set to release his highly anticipated tariff letters on Monday. Trump's announcement, which comes after a fresh warning to BRICS countries, will reveal whether a trade deal has been struck or his Liberation Day tariffs have been imposed.

As the July 9 deadline nears, India and the US have been locked in detailed negotiations for a bilateral trade agreement. These talks began after the US president hiked the tariff on India to 26 per cent from the previous 10 percent.

After 'Liberation Day', Trump declared a 90-day pause on the tariffs announced for all countries. The US president, however, has stated he will extend this deadline to August 1, after which the levies on countries will be impose...