Trump's tariffs struck down by US top court: Does it mean zero tariff on India?

In a landmark ruling, the United States Supreme Court has overturned tariffs imposed by former President Donald Trump, declaring that the 1977 International Emergency Economic Powers Act does not grant the President the authority to unilaterally impose such tariffs. This decision is poised to reshape international trade dynamics, particularly for countries like India, which have been affected by previous tariff measures. The ruling opens the door for potential recalibrations in trade relations, as the absence of these tariffs could lead to a more favorable export environment for Indian goods. Analysts suggest that while the immediate impact on trade with the U.S. remains to be seen, this could signal a shift towards more equitable trade practices. Given India's significant export portfolio, including textiles, pharmaceuticals, and information technology services, the ruling is being closely monitored by policymakers and industry stakeholders alike. As India seeks to enhance its trade ties with the U.S., this ruling could provide an opportunity for renewed negotiations and collaborations, fostering a more balanced trade framework moving forward.