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Tariff Implementation
15% across-the-board tariffs scheduled to take effect for 150 days.
Negotiations Deferred
India and US officially reschedule the Feb 23 chief negotiator meeting to evaluate legal impacts.
Trump Retaliation
President Trump announces 10% global tariffs, later increased to 15%.
SCOTUS Ruling
US Supreme Court strikes down presidential tariff authority, citing Congressional power.
Framework Reached
India and US announce a framework for an interim trade agreement.
Critical Minerals MoU
India and Brazil sign the rare earths and critical minerals pact in New Delhi.
AI Impact Summit
President Lula addresses the AI Impact Summit in Delhi, calling for global governance.
Aerospace Partnership
Embraer and Adani Group announce plans to build aircraft in India.
Initial Trade Targets
PM Modi visits Brasilia and sets an initial $20 billion bilateral trade target.
The US Supreme Court's decision to strike down President Trump's emergency tariffs has sparked a massive shift in global trade dynamics, with China and India positioned as the primary beneficiaries. This ruling effectively dismantles the 'emergency levy' framework, restoring previous trade terms and providing immediate relief to international supply chains.
Negotiations for a landmark interim trade deal between India and the United States have been abruptly postponed following a U.S. Supreme Court ruling that limits presidential tariff authority. The delay comes as President Trump counters the court with a 15% across-the-board tariff, creating significant uncertainty for retail supply chains and cross-border e-commerce.
India and Brazil have signed a landmark Memorandum of Understanding on rare earths and critical minerals to diversify supply chains away from China. The agreement, signed by PM Modi and President Lula, targets exploration, processing, and refining to support high-tech industries including electronics, clean energy, and defense.
Following a 6-3 Supreme Court ruling declaring his 'reciprocal tariffs' illegal, President Trump asserted that trade relations with India remain unchanged. Despite the legal setback regarding executive authority, the administration plans to pursue alternative routes to maintain its protectionist trade framework.