The US Supreme Court struck down President Trump's sweeping tariffs imposed under emergency powers, ruling 6-3 that the administration exceeded its legal authority under the International Emergency Economic Powers Act.

The US Supreme Court struck down President Trump's sweeping tariffs imposed under emergency powers, ruling 6-3 that the administration exceeded its legal authority under the International Emergency Economic Powers Act. In response, Trump signed an executive order implementing a 10% global tariff under Section 122 of the Trade Act of 1974, effective February 24. This temporary measure allows for import surcharges up to 15% for 150 days to address balance-of-payments deficits but requires Congressional approval for extensions. Trump stated that tariffs under Section 232 and Section 301 remain unaffected by the court ruling. India faces potential trade implications from these tariff policies, though the administration claims no change in the existing trade deal with the country. The temporary nature of this new tariff structure creates uncertainty for businesses and trading partners.