India gets relief as US Supreme Court strikes down Trump’s global tariffs, easing pressure on $10B+ exports

India is set to benefit after the US Supreme Court ruled 6–3 to strike down former President Donald Trump’s sweeping global tariffs imposed under emergency powers.

The decision halts the 10%+ reciprocal duties applied on imports from more than 90 countries, including India. The broader tariffs, which covered sectors such as automobiles, textiles and engineering goods, have been voided retroactively, though steel and aluminium duties remain in place.

For India, the ruling brings relief to exports worth over $10 billion to the United States. Key sectors such as auto components and pharmaceuticals, which had faced higher cost burdens due to the additional tariffs, are expected to see improved competitiveness in the US market.

The retroactive nature of the verdict could also potentially lead to significant refund claims on duties already paid under the now-invalidated tariff framework.

Market participants will be closely watching the response in Indian equities, particularly among export-focused companies, when trading resumes.

This is a developing story.