New Delhi, Aug. 1 -- Just hours before the August 1 trade deadline, the White House announced a major new global tariff policy on July 31. Although it was expected to start by midnight, the Trump administration pushed the start date to August 7.

India now faces 25 per cent tariffs on its exports to the US under the new reciprocal framework. Clearly, the next seven days are crucial as negotiations between the two nations on a trade deal are underway.

The new tariffs, outlined in a sweeping order signed on Friday (IST), will come into effect from 12:01 AM (EDT) on August 7.

The executive order states that the revised tariffs are aimed at addressing the national emergency declared earlier under Executive Order 14257

The US is one of Indi...