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The court did not say how the government should refund the illegal tariffs, worth an estimated $175 billion
President Trump last year invoked emergency powers to impose sweeping tariffs on imports; A year later, the Supreme Court ruled he exceeded his authority, ending an aggressive tariff regime
Updated On : 20 Feb 2026 | 10:00 PM ISTGTRI says the US Supreme Court's decision striking down Trump's global tariffs frees most Indian exports from reciprocal duties, prompting a reassessment of the new bilateral trade deal
Updated On : 20 Feb 2026 | 9:46 PM ISTShares of affected companies reacted positively, including Europe's luxury brands from LVMH to Hermes and Italian luxury outerwear group Moncler, all of which rose after the ruling
Updated On : 20 Feb 2026 | 9:46 PM ISTWith the Supreme Court striking down Trump's use of IEEPA for tariffs, the former president may rely on older trade statutes to revive tariff action. Each carries implications for India
The tax now has been declared "illegal" by the US Supreme Court
Move comes as Washington trying to figure out legalities
The US Supreme Court's tariff ruling dents Donald Trump's leverage, reshaping global trade talks and placing India in a relatively stronger negotiating position
The US Supreme Court curbs Donald Trump's tariff powers, reaffirming congressional authority and showing how institutional checks can still restrain populist executives
Indian auto and medical device exporters adopt wait-and-watch approach as US tariff shifts and refund uncertainty cloud shipment decisions
Greer, speaking on CBS's "Face the Nation" program, said he had already spoken with his counterpart from the European Union and would be speaking with officials from other countries
US Supreme Court curbs Trump's sweeping tariff powers, but new levies and trade probes keep global partners and businesses on edge
Domestic macroeconomic data, monthly F&O expiry and global developments following US President Donald Trump's tariff hike after the Supreme Court verdict are likely to keep equity markets volatile next week, analysts said. Besides, the trading activity of foreign investors, developments between the US and Iran, movements in crude oil prices and global monetary signals will also guide market movement during the week, they added. "Markets are likely to remain volatile in the coming week, particularly with the monthly F&O expiry scheduled for February 24. On the domestic front, key data releases include GDP figures, government budget value, foreign exchange reserves, and infrastructure output (YoY)," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. He said investors will assess the implications around a fresh executive order by Trump which may influence trade dynamics, tariff structures, and global risk sentiment following the US Supreme Court verdict on tariffs. Trump on .
The delay came mainly from the uncertainty over tariffs following Friday's judgment, the source added
This scrutiny arises in the immediate aftermath of a landmark Supreme Court ruling that struck down most of Trump's previous sweeping tariff measures
The blow comes amid a perilous stretch for White House, with Trump facing criticism over his threats to acquire Greenland, violent actions by immigration officers and the fallout from Epstein files
He said the administration would determine and announce revised tariff levels for different countries in the coming months within the limits permitted under law
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
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
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
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
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,
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
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