US Supreme Court Limits Trump's Tariffs; New Global Levies Prompt Trade Uncertainty

The US Supreme Court ruled that President Trump's use of the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs was unconstitutional, striking down many of his country-specific levies. In response, Trump imposed a temporary 10 percent global tariff under Section 122 of the Trade Act of 1974, later threatening to raise it to 15 percent. This shift has created uncertainty among global trading partners, including the EU and India, leading to paused trade negotiations and concerns over the future of trade deals. Analysts note some Asia-Pacific economies may benefit from the uniform tariff, while legal experts anticipate further challenges to the new tariffs. India is reassessing its trade strategy amid these developments, with officials emphasizing protection of national interests and strategic partnerships.