Latest Updates on Trump tariffs

New Delhi expected to sign an interim pact in March, but fresh US investigations and uncertainty over tariffs have slowed negotiations, government sources say

President Donald Trump is scrambling to replace the revenue the federal government lost when the Supreme Court struck down his biggest and boldest tariffs last month. If the effort succeeds, congressional Democrats warn in a study out Friday, the administration's import taxes will cost American households an average of $2,512 in 2026, up 44% from $1,745 in tariff costs last year. And this at a time when U.S. consumers are already angry over the high cost of living and the war with Iran is pushing up energy prices. "Despite a Supreme Court ruling that much of Trump's tariff agenda is illegal, the Trump administration refuses to provide relief for families," said Sen. Maggie Hassan of New Hampshire, the top Democrat on the Joint Economic Committee. "As American families continue to struggle with high costs, the President keeps choosing to institute new tariffs that will push prices even higher." Calling the study "phony," White House spokesman Kush Desai said "President Trump will ...

The justices in February struck down his use of an emergency powers law to impose duties, but didn't address his authority to halt the exemption for low-value packages

India's trade deals with the US and Europe promise market access and investment flows, but industry readiness and new regulatory barriers may shape their real impact

Goyal said India is closely watching the evolving situation following the US SC's verdict, and will continue to engage with Washington for best possible opportunities in the interim trade deal

In a defeat for the Trump administration, a federal judge in New York ruled Wednesday that companies that paid tariffs struck down last month by Supreme Court are due refunds. Judge Richard Eaton of the US Court of International Trade wrote that "all importers of record'' were "entitled to benefit'' from the Supreme Court ruling that struck down sweeping double-digit import taxes President Donald Trump imposed last year under the 1977 International Emergency Economic Powers Act (IEEPA). The Supreme Court found those tariffs to be unconstitutional under the emergency powers law, including the sweeping "reciprocal" tariffs he levied on nearly every other country. The majority ruled that the president could not unilaterally set and change tariffs because taxation power clearly belongs to Congress. In his ruling, Eaton wrote that he alone "will hear cases pertaining to the refund of IEEPA duties.'' The ruling offers some clarity about the tariff refund process, something the Supreme Cou

Building economic and military strength at home and securing trade deals abroad are vital

A federal court on Monday rejected the Trump administration's attempt to slow the process of refunding billions of dollars' worth of tariffs the Supreme Court struck down as illegal last month. The US Court of Appeals for the Federal Circuit started the next phase in the refund process by sending it to a lower court to sort out. In a court filing Friday, Trump's Justice Department had urged the Federal Circuit to proceed cautiously and hold off for 90 days. But the judges refused. The Supreme Court ruled Feb 20 that Trump's sweeping tariffs on most countries in the world were illegal, clearing the way for the importers who paid them to seek refunds. The government had collected more than USD 130 billion from the tariffs by mid-December, and could ultimately be on the hook for refunds worth USD 175 billion, according to calculations by the Penn Wharton Budget Model. But the Supreme Court offered no guidance on refunds; its decision did not even mention them. Now the US Court of ...

The DOJ lawyers wrote that a delay wouldn't hurt companies because "monetary loss is a classic harm that can be remedied by payment of money with appropriate interest"

The IEEPA tariffs were probably already illegal under World Trade Organization (WTO) rules, as they violated the principle of equal treatment

India is closely watching US tariff moves after the Supreme Court verdict, with Goyal saying New Delhi will continue to engage Washington to preserve balance in the newly finalised interim trade deal

Exports from some EBRD countries to the United States even grew, particularly those related to the AI boom, as those countries replaced China's exports

Sensex Today| Stock Market Highlights on February 26, 2026: In the broader market, The Nifty MidCap ended 0.66 per cent higher, and the Nifty SmallCap index ended 0.01 per cent down.

Company opens largest dairy feed plant in South-Asia in Punjab today with an investment of ₹300 crore

At BS Manthan, former Niti Aayog CEO Amitabh Kant urges India to avoid knee-jerk responses to US policy shifts and focus on manufacturing scale, cost competitiveness and inclusive AI growth

The US tariff rate for some countries will go up to 15 per cent or higher from the newly-imposed 10 per cent, US Trade Representative Jamieson Greer said

Stock Market Highlights on February 25, 2026:The Nifty MidCap and the Nifty SmallCap indices ended 0.58 per cent and 0.96 per cent higher, respectively.