Trump Tariffs For India Slashed To 10% From 18% After SCOTUS Ruling | What Does It Mean? | N18G | 4K

Описание: The White House announced that US trading partners, including India, will now face a flat 10% tariff, overriding previously agreed rates under deals finalized with the Trump administration. This tariff will remain until another authority intervenes, ensuring compliance with US trade agreements. The Supreme Court ruled 6-3 that the Trump administration exceeded its authority by using the International Emergency Economic Powers Act (IEEPA) to impose broad tariffs, a decision Trump criticized as “ludicrous,” claiming it favors other countries. In response, Trump signed an executive order implementing a global 10% tariff under Section 122 of the Trade Act of 1974, which allows temporary surcharges to address balance-of-payments deficits. He confirmed that the trade deal with India remains intact, emphasizing a strong personal bond with Prime Minister Narendra Modi. Under the interim US-India pact, the US reduced its reciprocal tariff from 50% to 18%, while India agreed to eliminate tariffs on American goods, creating what Trump called a fair and mutually beneficial trade arrangement.

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