Trump is adamant even after Supreme Court’s decision, global tariff will be implemented from this date – Tariff on India will be reduced by this much, know complete details

Washington. Political and economic turmoil regarding tariffs has intensified in America. President Donald Trump has clearly refused to back down from his tariff policy despite the Supreme Court’s decision. The Supreme Court, with a majority of 6-3, declared the tariff imposed by Trump illegal and ordered its removal, but within a few hours, Trump announced the implementation of a new global tariff of 10 percent.

New tariff will be applicable from 24th February-
While talking to the media at the White House, Trump said that this temporary global tariff of 10 percent will come into effect from February 24 and will remain in effect for 150 days. After this, a proposal on this will be brought to the US Parliament, where it will be decided whether it should be continued further or not.

Under the new executive order, a 10 percent duty will be imposed on all imported goods coming into the US. The Trump administration says that this step has been taken to improve national security, trade balance and protect the interests of American industries, farmers and manufacturers.

How much will it affect India?
After the Supreme Court decision and the new global tariff, the biggest question is how much duty will be imposed on India. According to reports, now 10 percent tariff will be applicable on India.

Earlier the tariff was 18 percent on India, 15 percent on EU and Japan and 10 percent on Britain. After the implementation of the new global tariff, 10 percent duty will be applicable equally on all countries. That means India will get some relief as compared to before and 10 percent tariff will be imposed on it instead of 18 percent.

What did Trump say on India-US trade agreement?
When asked about the interim trade agreement with India, Trump clearly said that there will be no change in this agreement. “Nothing will change. India will pay tariffs and we will not,” he said. He also said that the situation has changed compared to earlier.

Trump described his relations with Prime Minister Narendra Modi as “very good”. It is noteworthy that recently America had talked about removing 25 percent punitive tariff imposed on India and reducing it to 18 percent under the new framework, which will now be reduced to 10 percent.

Statement on stopping war and oil from Russia-
During the press conference, Trump claimed that he had stopped the conflict between India and Pakistan by threatening tariffs. He said that both the countries were warned of imposing 200 percent tariff. Apart from this, he also claimed that on his request India reduced oil purchases from Russia. However, questions have been raised regarding these claims earlier also.

Displeasure over the decision of the Supreme Court-
Responding to the Supreme Court’s decision, Trump called it disappointing and also criticized some judges. But by ordering the imposition of a 10 percent temporary import duty immediately after the decision, he made it clear that the tariff is an important part of his economic policy and he is not going to back down from it.

Overall, despite the Supreme Court’s decision, the Trump administration has taken a big step on global trade and implemented a uniform tariff of 10 percent, which will impact many countries including India. Now everyone’s eyes are on the next decision of the US Parliament.