Latest Updates on Trump tariffs

Trump raises global tariff to 15% from 10% day after US court's big ruling

He said the administration would determine and announce revised tariff levels for different countries in the coming months within the limits permitted under law

With tariffs ruling, US Supreme Court reasserts its power to check Trump

Shane noted that the tariffs case did not require the court to wade into the wisdom of Trump's policy or the soundness of his discretion - and may not undermine Trump's power going forward

Govt studying implications of US Court tariff ruling; Trump remarks

The US Supreme Court ruled that Trump exceeded his authority by imposing tariffs under the International Emergency Economic Powers Act (IEEPA), a 1977 law intended for national emergencies

Explained: What Trump's 10% global import tariff reset means for India

From 50% duties to a temporary 10% levy, US tariff rules on Indian goods have shifted, lowering costs for now while leaving sectoral duties and trade deal negotiations largely unchanged

Asian economies assess impact of fresh Trump tariff moves, confusion

The court struck down several Trump-era tariffs on Asian export giants, China, South Korea, Japan, and Taiwan, key players in tech supply chains and the global chip market

Congress calls US trade deal an 'ordeal', Rahul says PM 'compromised'

After the US Supreme Court struck down President Donald Trump's global tariffs, Congress leader Rahul Gandhi accused Prime Minister Narendra Modi of being "compromised", saying his "betrayal" in the India-US interim trade deal stood exposed. The Congress alleged that the trade deal had become an "ordeal" for the country subjected to by the prime minister's "desperation and surrender". "The PM is compromised. His betrayal now stands exposed. He can't renegotiate. He will surrender again," Gandhi said in a post on X. This comes a day after the US Supreme Court struck down President Donald Trump's global tariffs. Congress general secretary in-charge communications Jairam Ramesh claimed that if Prime Minister Modi had not been so "desperate" to protect his "fragile image" and waited just 18 days more, Indian farmers would have been saved from the agony and distress, and Indian sovereignty would have been protected. "Yesterday after the US Supreme Court struck down his tariffs policy,

Murky outlook for business amid Trump's new moves against SC tariff verdict

Businesses face a new wave of uncertainty after the Supreme Court struck down tariffs imposed by President Donald Trump under an emergency powers law and Trump vowed to work around the ruling to keep his tariffs in place. The Trump administration says its tariffs help boost American manufacturers and reduce the trade gap. But many US businesses have had to raise prices and adjust in other ways to offset higher costs spurred by the tariffs. It remains to be seen how much relief businesses and consumers will actually get from Friday's ruling. Within hours of the court's decision, Trump pledged to use a different law to impose a 10 per cent tariff on all imports that would last 150 days, and to explore other ways to impose additional tariffs on countries he says engage in unfair trade practices. "Any boost to the economy from lowering tariffs in the near-term is likely to be partly offset by a prolonged period of uncertainty," said Michael Pearce, an economist at Oxford Economics. "Wit

For Europe Inc, US tariff relief brings unexpected trade uncertainty

Many firms cautioned that Trump could pursue other avenues to impose similar tariffs, reducing the benefit of lower levies, while tariff refunds are likely to be difficult to obtain

US SC tariff verdict clouds Fed's rate path after a year of upheaval

Markets fluctuated on Friday between bets that the Fed would cut rates in June or wait until July, reflecting the complications introduced by the Supreme Court ruling

India faces reduced 10% US tariff after Trump announces new global levy

India now faces a lower tariff rate of 10 per cent, down from 18 per cent, after US President Donald Trump announced a new global levy on items imported into America in the wake of the Supreme Court verdict against his sweeping tariffs. In a proclamation titled 'Imposing a Temporary Import Surcharge to Address Fundamental International Payments Problems', Trump said he is imposing, for a period of 150 days, a "temporary import surcharge of 10 per cent ad valorem" on articles imported into the United States, effective February 24. Given this new tariff rate of 10 per cent, which will be applicable on countries around the world, Indian goods being imported into the US would no longer be subject to the 18 per cent tariff rate that had been decided on following the announcement of a framework for an Interim Agreement on trade between India and the US. In a major setback to Trump's pivotal economic agenda in his second term, the US Supreme Court, in a 6-3 verdict written by Chief Justice

Who is Neal Katyal, the Indian-origin lawyer behind Trump tariffs verdict

The US Supreme Court's 6-3 decision striking down Donald Trump's reciprocal tariffs has put Indian-origin lawyer Neal Katyal in focus, after he successfully argued that only Congress can impose tariff

USTR plans new Section 301 probes covering major trading partners

Trump administration has cautioned foreign trading partners and the business community for months that it would use alternative tools to address its trade concerns if IEEPA tariffs were struck down

Mexico, Canada secure exemption from 10% US levy, but USMCA risks remain

Mexican and Canadian officials know that even if using IEEPA is out, the Trump administration is ready to employ other tactics to gain an edge over them

Trump invokes 1974 trade law to impose 10% global tariff after SC setback

US President invokes Section 122 to impose 150-day import surcharge from February 24, citing a widening balance-of-payments deficit after Supreme Court strikes down reciprocal tariffs

US Treasuries fall after Supreme Court scraps President Trump's tariffs

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

Nothing changes in terms of trade deal with India: Donald Trump

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

'Exceeded authority': US Supreme Court strikes down Trump's global tariffs

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

Trump has other tariff options after SC strikes down his import taxes

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