Last mentioned: 7h ago
Implementation Date
Tariffs are scheduled to go into effect at 12:01 a.m. ET according to White House fact sheets.
Tariff Implementation
New 15% tariffs on Indian goods and other global imports take effect.
Negotiations Deferred
India and U.S. agree to reschedule the chief negotiator meeting.
Executive Response
Trump lashes out at justices and signs EO for new 10% global tariff.
Escalation to 15%
Trump increases the rate to 15% via Truth Social, citing Section 122 authority.
Tariff Announcement
Trump announces 10% global tariff, later increased to 15%.
SCOTUS Ruling
Supreme Court strikes down reciprocal tariffs in a 6-3 decision.
Market Rally
Stoxx 600 and US stocks rise; Stoxx 600 hits all-time record.
SCOTUS Ruling
Supreme Court invalidates the administration's use of emergency powers for global tariffs.
10% Announcement
Trump announces a 10% global tariff in immediate response to the court's decision.
SCOTUS Ruling
Supreme Court rules tariff authority belongs to the U.S. Congress.
India and the United States have indefinitely postponed high-level trade negotiations following a landmark U.S. Supreme Court ruling that shifts tariff-setting authority from the President to Congress. The delay comes as President Trump retaliated against the judicial check by imposing a 15% blanket tariff on all imports, including those from India.
President Donald Trump has escalated global import duties to a 15% maximum, pivoting to Section 122 of the 1974 Trade Act after the Supreme Court invalidated his previous emergency-power tariffs. This temporary measure faces a 150-day legislative deadline and significant skepticism from a Republican-controlled Congress concerned about inflation.
The US Supreme Court has invalidated President Trump’s sweeping reciprocal tariffs in a landmark 6-3 ruling, citing an overreach of executive authority. The decision has triggered a global market rally, with the Stoxx 600 hitting record highs, while opening the door for billions in corporate tax refunds.