India to stay the course on trade talks with US after Supreme Court strikes down Trump's tariffs

In a significant development for international trade relations, India has reaffirmed its commitment to ongoing trade negotiations with the United States following the recent Supreme Court ruling that invalidated former President Trump's tariffs. The ruling opens the way for a reduction in reciprocal tariffs, with India's current 25% tariff on certain U.S. goods poised to decrease to 15%, diverging from the previously discussed figure of 18% agreed upon in a joint statement issued on February 7. This decision reflects India's strategic approach to strengthen economic ties with the U.S., enhancing trade opportunities and fostering a more favorable business environment. As both nations navigate the complexities of trade dynamics, India's proactive stance indicates a desire to build on existing agreements and explore new avenues for collaboration, despite the backdrop of changing political landscapes. The outcome of these negotiations could significantly impact various sectors of the economy, potentially benefiting industries reliant on imports from the U.S. and shaping the future of bilateral trade relations.