The US Supreme Court has ruled that the International Emergency Economic Powers Act (IEEPA) does not empower the president to enact tariffs, striking down key elements of broad trade policies under President Donald Trump.
Court Decision Triggers Tariff Adjustments
In direct response to the ruling, President Trump introduced a uniform 10% tariff on imports worldwide. This policy shift brings India’s tariff rate down from 18% to 10%, aligning it with the new standard.
White House Confirms Changes
A White House official announced the reduction, emphasizing the adjustment follows the Supreme Court’s determination on presidential authority over trade measures. The move aims to standardize tariffs amid ongoing trade recalibrations.
