President Donald Trump’s latest tariffs are ready to launch. Last week, Trump signed executive orders slapping tariffs of between 10% and 41% on a range of countries, but delayed their start date until Aug. 7.

Trump has now imposed a total of 50% tariffs on goods imported from India, and his earlier threat of levying an extra 10% for the country's membership in the Brics grouping, which includes China, Russia and South Africa as founding members, still stands.

The US will impose an additional 25% tariff on Indian goods in 21 days, citing the country's continued oil purchases from Russia, under an executive order signed by President Donald Trump on Wednesday.