The United States is set to stop collecting import tariffs imposed by Donald Trump starting today, following the US Supreme Court’s ruling against these tariffs. This marks a significant rollback of a trade policy that had reshaped global supply chains and strained relations with key trading partners. However, Trump remains defiant, and his new 15% global tariffs imposed using Section 122 are set to kick in. Trump has warned that countries attempting to circumvent the Supreme Court’s ruling will face even higher tariffs, reiterating that he does not need congressional approval to impose tariffs. The ripple effects of these developments are already visible internationally. India-United States trade talks, which were scheduled to begin on February 23rd to finalize the text of a proposed trade deal, have been deferred. Additionally, the European Union parliament has postponed its vote on the EU trade deal with the United States. A speaker discussed how a consensus has been reached after countries were warned about oil purchases.
#USTariffs #TrumpTariffs #supremecourtjudge #TradPolicy #GlobalTariffs #Section122 #InternationalTrade #IndiaUSTrade #EUTradeDeal #TradeNegotiations #ImportTariffs #TariffRollback #USEconomy #TradeRelations #GlobalSupplyChains #TradeWar #EconomicPolicy #TradeSanctions #CommerceDiplomacy #TradeTensions #indiatodaylivestream
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