Overview
- The Supreme Court, in a 6–3 decision, held the President lacked authority under the 1977 IEEPA to impose broad reciprocal tariffs, reaffirming Congress’s taxation and trade powers.
- President Trump said he signed an order invoking Trade Act Section 122 to add a 10% tariff on all imports, scheduled to take effect at 10:31 a.m. India time on 24 February.
- Tariffs imposed under Sections 232 and 301 remain in force, and Trump predicted multiyear court fights over whether previously collected sums he described as “hundreds of billions” must be refunded.
- India’s Commerce and Industry Ministry said it is closely studying the Court decision and the subsequent U.S. measures to assess their impact.
- In a separate diplomatic rift, the United Kingdom declined U.S. requests to use RAF Fairford and Diego Garcia for potential Iran strikes, citing concerns about possible violations of international law.