Government Reacts To US Top Court Striking Down Trump’s Tariffs, Read In Details
New Delhi : The Government of India on Saturday said it is assessing the implications of the recent judgement by the US Supreme Court on tariffs. The Ministry of Commerce & Industry said the Indian government is studying the developments on the US tariff and their implications. It noted the Supreme Court’s judgement delivered on Friday and referred to President Trump’s press conference held in this regard.
We have noted the US Supreme Court judgement on tariffs yesterday (Friday). US President Donald Trump has also addressed a press conference in this regard,” the ministry said. Some steps have been announced by the US administration. We are studying all these developments for their implications,” it added. The government said it is closely examining all these developments to understand their potential impact.
The Supreme Court, in a 6-3 verdict, upheld a lower court’s decision that had said the US President overstepped his power while using the 1977 International Emergency Economic Powers Act (IEEPA) while announcing the tariffs. The justices concluded that the Act did not grant Trump the authority he claimed to have had to impose the tariffs. Hours after the Supreme Court struck down his earlier sweeping import duties, US President Donald Trump on Friday said he has signed an executive order imposing a 10% tariff on imports from all countries, escalating his trade agenda.
With the US Supreme Court striking down President Donald Trump’s global tariffs and Washington issuing a new order imposing a temporary 10 per cent import surcharge, Indian goods will now face only a 10 per cent reciprocal levy from February 24, the White House clarified. Technically, the effective tariff for India should now stand at 3.5% plus the 10% imposed under Section 122 by Trump, taking the total levy to 13.5%.
