• The Indian government is closely examining the implications of a new U.S. tariff policy announced by President Donald Trump, which has resulted in India facing a reduced tariff rate of 10% instead of the previous 18%.
• This change follows a U.S. Supreme Court verdict against Trump's tariffs, leading to a temporary 10% import surcharge for 150 days, while Trump asserted that existing India-U.S. trade deal parameters remain unchanged, with India continuing to pay tariffs.
• The Supreme Court's 6-3 ruling stated that the law Trump used to impose tariffs does not grant him the authority to do so, a decision Trump controversially attributed to 'foreign interests' despite his own nominations to the court.