Will Trump withdraw huge taxes after the US Supreme Court’s decision? Know 5 important things about this historical order

News India Live, Digital Desk: Will US President Donald Trump have to step back from his biggest economic weapon i.e. ‘Global Tariff’? A historic decision of the US Supreme Court has created a stir in the markets all over the world. The court has banned the ‘universal tariff’ imposed by the Trump administration, terming it unconstitutional. Let us understand in detail what the Supreme Court has said and whether America will now have to withdraw its decision. Strict decision of the Supreme Court: The President does not have ‘open powers’. The US Supreme Court, while giving its verdict by a majority of 6-3, made it clear that the President has not got unlimited powers under the ‘International Emergency Economic Powers Act’ (IEEPA) of 1977. The court said that: Power of Parliament: Congress (Parliament) has the primary authority to impose taxes or duties in America. Misuse of emergency: The President can use powers only in special emergencies, it cannot be made a permanent trade policy. Constitution Paramount: No executive order can violate the basic structure of the US Constitution. Will Trump withdraw the tariffs? Legally, after this decision, the Trump administration will have to withdraw those tariffs with immediate effect. Those who were imposed on the basis of this old law will have to be stopped. However, experts believe that Trump will not give up so easily. Withdrawal of funds: The government may now have to return the billions of dollars that have been collected as taxes from the companies. Search for options: The Trump administration can now take the help of other laws (such as Section 232 or 301), which the court has not yet directly rejected in this matter. Eyes around the world: How much relief to India and China? If this tariff If taken back, it will be a big victory for countries like India. The additional tax burden of millions of dollars on the Indian IT sector, gem-jewellery and textile industry will be reduced. At the same time, this can also be a big relief for China, which is already facing the US trade war. What will be the next move? Sources close to the White House say that Trump’s legal team is closely reviewing this decision. There is a possibility that Trump may now introduce a new bill in the US Parliament (Congress), where his party (Republicans) has the majority. If a new law is passed by the Parliament, then this decision of the Supreme Court may also become ineffective.