Washington, Aug. 1 -- US President Donald Trump signed a sweeping executive order imposing sharply higher tariffs on dozens of trading countries potentially upending the global trade system and signaling a renewed push toward a protectionist era.
India continues to face a 25 per cent tariff on its goods under the new order. However, the "additional penalties" Trump had threatened over India's ongoing imports of Russian oil remain unspecified.
Trade negotiations between Washington and New Delhi have been taking place but are now reportedly stalled particularly over agricultural market access.
Pakistan, meanwhile, received a more favourable outcome. Having recently finalized a deal with the US on oil reserves, Islamabad's tariff rate has ...