Latest Updates on Trump tariffs

Yields rose broadly following the court's decision with the rate on the benchmark 10-year note climbing to 4.10%

Trump's remarks came after the US Supreme Court ruled that he could not rely on the International Emergency Economic Powers Act to impose sweeping tariffs on imports

The ruling came weeks after India and the US issued a joint statement towards an interim trade agreement on February 7 stating the contours of the deal

The president acted alone even though the US Constitution specifically gives the power to tax and impose tariffs to Congress

The US Supreme Court rejected the use of a national emergency law to justify broad tariffs on imported goods

Shares of legacy automaker General Motors recouped some losses and were last down 0.1%, while Ford Motor was last up 1%

UK says its lowest reciprocal tariffs and close ties will safeguard its privileged trade position with the US after the Supreme Court strikes down Trump's sweeping tariffs

"We take note of the ruling by the US Supreme Court and are analysing it carefully," said the spokesperson

Supreme Court struck down sweeping tariffs under a law meant for national emergencies

An interim trade agreement between India and the US is likely to be signed in March and operationalised in April, Commerce and Industry Minister Piyush Goyal said on Friday. He also said that India's free trade agreements (FTAs) with the UK and Oman are likely to be implemented in April. With New Zealand, the pact is expected to be implemented in September. A three-day meeting between Indian and American officials to finalise the legal text for an interim trade agreement will begin in the US on February 23. Earlier this month, India and the US released a joint statement to announce that a framework for an interim trade agreement has been finalised.

A senior US lawmaker has said that President Donald Trump is "grasping for excuses" to "slap outrageous tariffs" on India for purchasing Russian oil, urging him to reverse this policy immediately. "President Trump is grasping for excuses to slap outrageous tariffs on #India," Congressman Brad Sherman said in a social media post on Wednesday. Sherman, a senior member of the House Foreign Affairs Committee as well as of the House Financial Services Committee, said in the post that Trump claims tariffs on India are about importing Russian oil. "Yet Hungary imports 90% of its crude from Russia with no tariffs. And China, Russia's biggest oil buyer, hasn't been hit with sanctions tied to purchasing Russian oil, though it has been hit for other reasons. "India gets just 21% of its crude from Russia, but our ally is being singled out. The President should reverse this policy immediately," Sherman said. Earlier this month, the US and India announced that they reached a framework for an ..

The Trump administration has reached a trade deal with Taiwan, with Taiwan agreeing to remove or reduce 99 per cent of its tariff barriers, the office of the US Trade Representative said. The agreement comes as the US remains reliant on Taiwan for its production of computer chips, the exporting of which contributed to a trade imbalance of nearly USD 127 billion during the first 11 months of 2025, according to the Census Bureau. Taiwan's exports to the US will be taxed at a 15 per cent rate or the US government's "Most Favoured Nation" rate, the USTR's office said on Thursday. The 15 per cent rate is the same as that levied on other US trading partners in the Asia-Pacific region, such as Japan and South Korea. Trade Representative Jamieson Greer attended the signing of the reciprocal agreement, which occurred under the auspices of the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States. Taiwan's Vice Premier Li-chiun Cheng and

In a Truth Social post, Trump said tariffs have strengthened US economic and national security and warned Republicans against opposing them

The House has voted to slap back President Donald Trump's tariffs on Canada, a rare if largely symbolic rebuke of the White House agenda as Republicans joined Democrats over the objections of GOP leadership. Wednesday's tally, 219-211, was among the first times the House, controlled by Republicans, has confronted the president over a signature policy. The resolution seeks to end the national emergency Trump declared to impose the tariffs, though actually undoing the policy would require support from Trump himself, which is highly unlikely. The resolution next goes to the Senate. Trump believes in the power of tariffs to force US trade partners to the negotiating table. But lawmakers are facing unrest back home from businesses caught in the trade wars and constituents navigating pocketbook issues and high prices. "Today's vote is simple, very simple: Will you vote to lower the cost of living for the American family or will you keep prices high out of loyalty to one person -- Donald J

The finalisation of a framework for signing a trade pact between India and the US has provided an immediate certainty and predictability to domestic exporters at the tariff front, experts say. As per the framework, the US will reduce reciprocal tariffs on India to 18 per cent from 25 per cent. The US has already removed the additional 25 per cent punitive tariff which it imposed on India for buying Russian crude. They said that the tariff on India is the lowest compared to its competitor nations such as China, Indonesia, Vietnam and Bangladesh. Rudra Kumar Pandey- Partner, Shardul Amarchand Mangaldas Co, said the framework provides much-needed operational clarity on the recent tariff rationalisation. The framework explicitly confirms that a reciprocal tariff rate of 18 per cent will apply across several key Indian export sectors, including textiles and apparel, leather and footwear, plastics and rubber, organic chemicals, home decor, artisanal products, and selected machinery ...

The interim framework outlines tariff cuts, market access and technology cooperation while protecting sensitive Indian sectors, paving the way for a broader India US trade agreement

The step is part of a wider agreement to ease trade tensions, under which India plans to buy about $500 billion worth of US goods, including energy, aircraft and technology, over the next five years