India-US to reschedule trade talks as Trump raises tariffs:Both countries reportedly agree they need more time to evaluate impact of US SC verdict new global 15% tariffs

Plans for a key meeting between Indian and US trade negotiators in Washington, DC have been reportedly put on hold. The meeting was intended to finalise discussions on a proposed trade deal between the two countries. However, sources in the Ministry of Commerce and Industry said on Sunday to the news agency, ANI, that, both sides have decided to reschedule to allow time to fully understand recent developments, particularly new tariff measures announced by the US. A new date for the meeting will be set later. US Supreme Court Ruling and Trump’s Response The delay comes after a significant ruling by the US Supreme Court that limited President Trump’s ability to impose tariffs. The court said the Trump administration had gone too far in using a 1977 law to introduce widespread import taxes. In response, President Trump announced he would issue an executive order imposing a 10% tariff on goods from all countries. This new tariff is based on a different law, the Trade Act of 1974. This was later raised to 15% India to Face New 15% Tariff White House confirmed that India is expected to pay this new 15% tariff. The tariff will remain in place until further notice, emphasizing that the US expects its trade partners to follow existing trade agreements. India Carefully Reviewing the Situation The Indian government has stated that it is carefully studying the implications of the US Supreme Court ruling and the new tariff measures announced by President Trump. The commerce ministry said it is analyzing these developments to understand their potential impact. Background: Aiming for a Trade Deal India and the US announced in early February that they had agreed on a framework for an initial trade agreement. This agreement was intended to be a step towards a more comprehensive trade deal between the two nations, covering a wider range of market access issues and aiming to strengthen supply chains. Despite the current uncertainty, both countries remain committed to pursuing a broader trade agreement in the future.