Latest Updates on Trump tariffs

India pushing for preferential market access in US trade deal: Piyush Goyal

Commerce Minister Piyush Goyal said negotiations on the US trade deal are taking longer than expected due to a 50% tariff on Indian goods, while India continues to seek preferential market access

Trump rebuilds US tariff wall, reshaping global trade winners and losers

US Trade Representative Jamieson Greer's trip to India this week may provide a preview of what countries with deals should expect

US appeals court allows Trump's 10% global tariff to stay in force for now

The US government can continue collecting the 10% worldwide tariff it imposed in February while legal challenges to the levies continue to work their way through the courts, a federal court ruled Thursday. The Court of Appeals for the Federal Circuit in Washington decision handed a procedural win to the Trump administration, concluding that its case was "likely to succeed on the merits.'' At issue are temporary 10% worldwide tariffs President Donald Trump imposed after the Supreme Court in February struck down even broader double-digit tariffs the president had imposed last year on almost every country on Earth. The new tariffs, invoked under Section 122 of the Trade Act of 1974, are set to expire July 24. Section 122, which had never been used to justify import taxes before, allows the president to impose worldwide tariffs of up to 15% for 150 days, after which congressional approval is needed to extend them. Section 122 is aimed at what it calls "fundamental international payment

US refunds $22 bn in tariffs after court setback to Trump's trade policy

Administration began processing refunds in April after the Supreme Court ruled that President Trump didn't have the authority to impose tariffs using the International Emergency Economic Powers Act

As US refines tariff refund system, who gets to apply is under dispute

A federal judge questioned a US Customs and Border Protection official Tuesday about the government's process for refunding billions of dollars in tariffs that importers paid before the Supreme Court ruled that President Donald Trump illegally imposed higher duties on goods from most other countries. Court of International Trade Judge Richard Eaton said he wanted to hear details that would help him decide whether to order the government to speed up and expand its system for issuing tariff refunds. Eaton praised the online system that CBP developed to process refund claims, saying it was working well and that he believed the government wanted to return all of the import tax money it collected without constitutional authority to do so. But he said a Justice Department appeal of his order requiring the agency to refund all companies that paid tariffs, not just those that filed lawsuits, threatened to derail the process. "Sometimes lawyers push legal positions beyond what is useful for

Best of BS Opinion: Credit, AI risks in BFSI, and Bengal's transition

From challenges in retail credit access and the fallout of Donald Trump's tariff policies to banking cybersecurity, regional connectivity and Indonesia's cultural landscape, today's opinions offer wid

A year of tariffs: Donald Trump's trade policy impoverishes US workers

New evidence from economists at Morgan Stanley sheds light on how US firms that are exposed to tariffs are changing their behaviour

Best of BS Opinion: USTR tariff threats deepen trade uncertainty

From fresh US tariff threats and fiscal policy constraints to the future of television broadcasting and the legacy of Shastri Bhawan, here are today's top Opinion insights

USTR proposes 12.5% extra tariff on India amid trade deal negotiations

The proposed tariff action, linked to a Section 301 investigation into forced labour import prohibitions, comes as Indian and US officials negotiate a bilateral trade agreement in New Delhi

Trump signs order amending tariffs on steel, aluminum and copper imports

The order also allows foreign companies to qualify for a 10% tariff if 'their capital equipment includes at least 85% aluminum by weight'

India to ask US for relief from Section 301 probes as trade talks resume

The two nations reached an agreement on a trade pact earlier this year before the US Supreme Court struck down President Donald Trump's sweeping reciprocal tariffs

Trump admin to appeal US court order mandating broad tariff refunds

US Customs and Border Protection launched a new online portal to process refund claims on April 20, signaling that it intended to repay at least some of the approximately $1 billion in refund

Approx $20.6 billion of tariff refunds on way to importers: US govt

However, the govt's latest declaration to the US Court of International Trade also included an admission of a significant error in its last report to federal judge overseeing the tariff refund process

US companies shamed by Trump quietly tiptoe into tariff-refund race

There's reason for discretion: The scramble for as much as $166 billion in refunds - plus interest - comes with the risk of political and legal jeopardy

Trump admin seeks to keep collecting tariffs after court ruling setback

In a 2-1 decision last week, a US Court of International Trade panel found that President Donald Trump's use of Section 122 of the Trade Act of 1974 to impose the tariffs was invalid

Judicial roadblocks for trade tariffs won't change Donald Trump's mind

For many countries around the world, including India, the possibility of Section 301 tariffs is even more concerning than the arbitrary IEEPA levies the President introduced last year

'Justices should be loyal': Trump criticises SC over ruling against tariffs

In a lengthy post on Truth Social, Trump singled out Justices Neil Gorsuch and Amy Coney Barrett for voting against his administration's position on tariffs

Chronology of US tariffs and penalties on Indian goods since April 2025

The following is the chronology of additional or reciprocal tariffs imposed by the US on Indian goods in addition to existing duties, since April 2025. Before Apr 2, 2025: Only MFN (most favoured nation) tariffs. These are standard import duties imposed on goods from all trading partners on a non-discriminatory basis. Apr 2 - August 6, 2025: 26 per cent (10 per cent baseline tariff and 16 per cent reciprocal tariff). It was over and above MFN duties. Apr 9, 2025: US suspends tariffs for 90 days (until July 9, 2025). July 31, 2025: The US announced a 25 per cent duty to be effective from August 7, 2025. Aug 6, 2025: Additional 25 pc tariff imposed on Indian goods for the purchase of Russian oil. To be effective from August 27. Aug 7- Aug 26, 2025: 25 per cent reciprocal tariffs, over and above MFN duties. Aug 27, 2025 - Feb 6, 2026: 50 per cent tariff on Indian goods Feb 7 - Feb 23, 2026: Russia-linked 25 per cent tariffs withdrawn. A joint India-US statement indicated Washingto