New Delhi, Aug. 1 -- President Donald Trump on Thursday signed an executive order that set new tariffs on a wide swath of U.S. trading partners to go into effect on Aug. 7 - the next step in his trade agenda that will test the global economy and sturdiness of American alliances built up over decades.

The order was issued shortly after 7 p.m. on Thursday. It came after a flurry of tariff-related activity in the last several days, as the White House announced agreements with various nations and blocs ahead of the president's self-imposed Friday deadline. The tariffs are being implemented at a later date in order for the rates schedule to be harmonized, according to a senior administration official who spoke to reporters on a call on the co...