India

Company

Last mentioned: 7h ago

Timeline

  1. 150-Day Expiration

    The initial legal window for the Section 122 surcharge expires, requiring renewal or new authority.

  2. Tariffs Effective

    The new 10% global tariff takes effect for all imports.

  3. Supreme Court Ruling

    SC rules 6-3 against the administration's use of IEEPA for broad import tariffs.

  4. Executive Order Signed

    Trump invokes Section 122 of the Trade Act of 1974 to impose a 10% global tariff.

Stories mentioning India 1

market-trends Bearish

Trump Pivots to Section 122 for 10% Global Tariff After Supreme Court Defeat

Following a landmark 6-3 Supreme Court ruling striking down the use of emergency powers for broad import duties, President Trump has invoked Section 122 of the Trade Act of 1974 to impose a 10% global tariff. The move shifts the legal basis for his protectionist agenda while temporarily lowering rates for some partners like India from previously negotiated levels.

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