US Supreme Court Limits Country-Specific Tariffs; India Adjusts Trade Strategy

The US Supreme Court ruled against the use of the International Emergency Economic Powers Act (IEEPA) for country-specific tariffs, prompting the Trump administration to replace them with a uniform 10% tariff under a different law. This change lowers effective tariffs for countries like India, China, and Vietnam, while increasing them for Japan, South Korea, the EU, and the UK. India's trade strategy emphasizes comparative advantage and regulatory alignment to maintain competitiveness amid shifting US tariff policies. The ruling's economic impact is seen as limited, with broader US trade barriers expected to persist.