Shock from the US Supreme Court to Trump Tariffs

In a significant development, the US Supreme Court has struck down the tariffs imposed by former US President Donald Trump. The apex court ruled that the president does not have the authority to unilaterally impose such duties. It further directed that the tariffs collected so far from various countries must be refunded by Trump, marking a major legal setback.

Following the Supreme Court verdict, US stock markets reacted positively and traded in gains. Meanwhile, it is noteworthy that Trump had earlier imposed an 18 percent tariff on imports from India. The ruling is expected to have broader implications for US trade policy and executive powers.