Page 2 - Latest Updates on Trump tariffs

Court setbacks to Trump tariffs may delay BTA talks with India: Experts

Repeated setbacks faced by US President Donald Trump in American courts have further heightened uncertainty over the US tariff regime, and India should wait for the United States to evolve a more stable and legally predictable trade framework before moving ahead with the proposed bilateral trade agreement, experts said. They said that this ruling is a crucial reminder that Trump's global tariffs violated WTO (World Trade Organisation) rules, and their striking down by US courts is a positive signal for multilateral trade norms. In another setback to the White House, a US federal court has struck down the 10 per cent global tariffs slapped by Trump, terming them "invalid" and "unauthorised by law". These new tariffs were imposed by Trump on all countries, including India, on February 24 for 150 days following an earlier US Supreme Court verdict that struck down his earlier sweeping levies. "The continuing uncertainty around US tariff policy, with major Trump-era tariffs repeatedly .

EU has until July 4 to approve trade deal or face higher tariffs: Trump

President Donald Trump has said in a social media post that goods from the European Union would face higher tariff rates if the 27-member bloc fails to approve last year's trade framework by July 4. The announcement on Thursday appeared to be a deadline extension after the president said last Friday that EU autos would face a higher 25 per cent tariff starting this week. Trump made the updated announcement after what he described as a "great call" with European Commission President Ursula von der Leyen. Still, the US president was displeased that the European Parliament had yet to finalize the trade arrangement reached last year, which was further complicated in February by the US Supreme Court ruling that Trump lacked the legal authority to declare an economic emergency to impose the initial tariffs used to pressure the EU into talks. "A promise was made that the EU would deliver their side of the Deal and, as per Agreement, cut their Tariffs to ZERO!" Trump posted. "I agreed to gi

US court finds Trump's latest 10% tariffs unlawful, blocks enforcement

Trump had imposed the 10% duties in February under Section 122 of the Trade Act of 1974, which had never previously been invoked

Trump tariff refund payouts start hitting US importers' bank accounts

The refund payments mark a milestone in the fierce legal fight over one of the president's signature economic policies. Hundreds of thousands of importers paid the contested tariffs

FIEO asks exporters to engage with US buyers for tariff refund share

Apex exporters' body FIEO on Wednesday said it has asked its members to engage with US buyers to seek a share of the refunded tariffs, with the United States initiating the process of refunding reciprocal tariffs from April 20. FIEO President S C Ralhan said that there is no legal right of Indian exporters on those refunds, as only the US businesses are getting the refunds. "But if an Indian exporter has a good relationship with his or her US buyer, she may get some share," he said. In its report, think tank Global Trade Research Initiative (GTRI) said that the engagement with the US buyers will be important as the refunded payments go only to US importers, and exporters have no legal right to claim them. Indian exporters have no direct legal route to claim refunds. Another industry official from the leather sector said that the businesses will discuss the matter with the US importers. "We are talking to our buyers on this," a leather sector exporter said. The US tariffs, impose

India's seafood exports hit record ₹72,325 cr in FY26 despite US tariffs

India's seafood exports reached a record high in FY26, with growth in China, EU and Southeast Asia helping offset a decline in shipments to the US due to higher tariffs

US starts tariff refunds; Indian exporters need to engage with buyers: GTRI

The US has initiated the process of refunding reciprocal tariffs from April 20, and Indian exporters should proactively engage with American buyers to seek a share of the refunded duties, think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that the engagement will be important as the refunded payments go only to US importers, and exporters have no legal right to claim them. Indian exporters will have no direct legal route to claim refunds, it said. The US tariffs, imposed from April 2, 2025, affected export of many Indian products, it said, adding that the total refund is about USD 166 billion, with roughly USD 12 billion linked to goods from India. To get refunds, US importers must file detailed claims online with shipment data, tariff lines and proof of payment. The reciprocal tariff regime began at 10 per cent on April 2, 2025 and was rapidly escalated. Rates for India rose to 25 per cent by Aug. 7, 2025 and to 50 per cent by August 28, remaining a

Refund process for Trump tariffs begins today after court struck them down

A refund system for businesses that paid tariffs which the US Supreme Court ruled President Donald Trump imposed without the constitutional authority to do so is scheduled to launch Monday. Importers and their brokers will be able to begin claiming refunds through an online portal beginning at 8 am, according to US Customs and Border Protection (CBP), the agency administering the system. It is the first step in a complicated process that also might eventually lead to refunds for consumers who were billed for some or all of the tariffs on products shipped to them from outside the United States. Companies must submit declarations listing the goods on which they collectively put billions of dollars toward the import taxes the court subsequently struck down. If CBP approves a claim, it will take 60-90 days for a refund to be issued, the agency said. The government expects to process refunds in phases, however, focusing first on more recent tariff payments. Any number of technical facto

Trump's tariff rates could be restored to original levels by July: Bessent

Trump is seeking to restore his tariff wall using different authorities after the high court ruled that his use of emergency powers to impose those earlier duties was unconstitutional

US federal court hears new case against Trump's latest global tariffs

The centerpiece of US President Donald Trump's economic policy sweeping taxes on global imports is under legal assault again. The US Court of International Trade, a specialised court in New York, heard oral arguments on Friday in an attempt to overturn the temporary tariffs Trump turned to after the Supreme Court in February struck down his preferred choice even bigger, even more sweeping tariffs. In his first attempt to impose global tariffs, the president last year invoked the 1977 International Emergency Economic Powers Act (IEEPA), using the law to declare America's longstanding trade deficit a national emergency and to impose double-digit worldwide taxes on imports to combat it. He interpreted the law broadly to justify tariffs of whatever size he wanted, whenever he wanted to impose them, on whatever country he wanted to target. The Supreme Court struck those tariffs down on February 20, saying IEEPA did not authorise the use of tariffs to counter national emergencies. Bu

Coexistence as a strategy in the India-China reset

The latest bilateral engagement is a product of necessity amid the ongoing global turbulence, not trust

Patent wins vs tariff risks: Analysts pick top pharma stocks to bet on

Pharma stocks have, so far, outperformed the markets in 2026. However, as risk around Trump tariffs resurface, analysts suggest shifting to domestic-focused companies. Here's the investment strategy.

US pharma tariffs: CDMOs with innovator exposure likely to take a hit

Proposed US tariffs on patented drugs may pressure innovators to shift production locally, creating uncertainty for Indian CDMOs even as generics-led exports remain largely insulated

India likely to stay insulated from Trump's tariff shock on patented drugs

US tariffs on patented drugs may have limited immediate impact on India, but industry flags uncertainty as policy ties relief to pricing and manufacturing shifts

US tariffs on medicines decoded: Why Washington wants pharma production back

The US plans tariffs of up to 100 per cent on imported medicines to reduce foreign dependence and boost domestic manufacturing, a move that could reshape global pharmaceutical supply chains

Trump imposes 100% tariff on patented drug imports; generics spared

The US has announced a 100 per cent tariff on patented pharma imports from countries like India without reshoring deals, aiming to boost local production, while generics have been exempted for now

Trump to impose up to 100% tariffs on imported drugs with some exemptions

Duties for products made by certain larger companies will take effect in 120 days, while items from smaller manufacturers won't be hit for another 180 days, according to a White House statement

One year of Trump's Liberation Day tariffs: Who struck deals, who resisted

A year after it was announced, 'Liberation Day' has altered the mechanics of global trade as tariffs have succeeded in forcing negotiations in some cases and reshaping supply chains in others