The decision followed the Court’s determination that the International Emergency Economic Powers Act (IEEPA) does not grant the president the authority to impose tariffs.
After US President Donald Trump introduced a 10% universal tariff in response to a ruling by the Supreme Court of the United States that invalidated much of his broad trade measures, a White House official stated that India’s tariff rate would be reduced from 18% to 10%.
The temporary 10% import duty will come into effect at 12:01 am Eastern Standard Time on February 24.The decision followed the Court’s determination that the International Emergency Economic Powers Act does not grant the president the authority to impose tariffs.Within hours of the Court’s ruling, former President Donald Trump announced a new 10% global tariff, stating that it would apply worldwide. He later signed an executive order formalizing the measure. Trump said this 10% tariff would be imposed in addition to the existing baseline tariff.Certain goods will be exempt from the temporary import duty to safeguard the needs of the US economy and to ensure that the measure effectively addresses the country’s underlying international payments challenges.Today, Donald Trump signed a proclamation introducing a temporary import duty aimed at tackling fundamental international payments issues and advancing the administration’s efforts to rebalance trade relationships in support of American workers, farmers, and manufacturers.President Trump is exercising his authority under Section 122 of the Trade Act of 1974, which allows the President to respond to certain fundamental international payment issues by imposing surcharges or other special import restrictions.Section 122 permits the US President to levy temporary tariffs of up to 15% for a period of no more than 150 days in cases of what the law describes as “large and serious” balance-of-payments deficits situations in which imports substantially exceed exports.Tariffs implemented under Section 122 automatically expire after 150 days unless Congress approves an extension. Although the time limit is clearly defined, trade experts point out that a president could allow the tariffs to lapse and later reinstate similar measures by declaring a new balance-of-payments emergency.Earlier on Friday, the Supreme Court of the United States ruled 6–3 that the global tariffs introduced by Trump were illegal. The majority held that, under the Constitution, the authority to impose taxes and tariffs rests with Congress, not the President.Reacting to the judgment, Trump expressed strong dissatisfaction, saying “Its very frustrating, and criticised some of the justices, calling their decision a disgrace.Regarding the trade deal with India, Trump stated that there would be no changes to the agreement and described Prime Minister Narendra Modi as a good friend.
Trump Tariffs 10% Universal Tariff Supreme Court Ruling IEEPA Ruling Tariff Reduction 18% To 10% Tariffs US Tariffs On India US Supreme Court . Donald Trump
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