Washington DC/IBNS, Feb. 14 -- US President Donald Trump Thursday announced sweeping "reciprocal tariffs" which would impact both allies and competitors.

The announcement paved the way for a dramatic escalation of an international trade war that economists warn could fuel inflation even in India.

The levies would be tailored to each US trading partner and consider factors including value-added tax (VAT).

Trump has announced a broad range of tariffs targeting some of the biggest US trading partners since assuming office on Jan 20.

He has justified his actions by saying these would help tackle unfair practices -- and in some cases using the threats to influence policy.

Trump's announcement came hours before he was due to meet Prime Min...