Page 3 - Latest Updates on Trump tariffs

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

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