Trump signs executive order to raise tariffs on key trading partners citing trade deficit, national security

President Trump issued an Executive Order, modifying reciprocal tariff rates under a declared national emergency to address U.S. trade deficits. The order adjusts duties on goods from specific trading partners, including Iraq, Laos, Switzerland, and India, while the EU faces a conditional structure. Penalties are imposed on transshipment schemes, and implementation will be overseen by senior officials.