NEW DELHI: India will pay a 10 per cent tariff “until another authority is invoked,” the White House said on Friday, after US President Donald Trump signed an executive order imposing a 10 per cent tariff on imports from all countries, news agency ANI reported.This comes after the US Supreme Court delivered a stunning rebuke to President Donald Trump, ruling in a 6–3 decision that his global tariffs are illegal.
When asked whether India will have to pay a 10 per cent tariff and whether it would replace previous tariffs imposed under the International Emergency Economic Powers Act (IEEPA), a White House official said, “Yes, 10% until another authority is invoked.”The official also advised all trade partners to abide by their trade deals. The new 10% global tariff is part of Trump’s protectionist trade agenda, aimed at addressing balance-of-payments issues and unfair trade practices.
Following the major legal defeat at the US Supreme Court, US President Donald Trump announced a 10 per cent global tariff “effective immediately.”“Effective immediately, all the national security tariffs under Section 232 and existing Section 301 tariffs remain in place… Today, I will sign an order to impose a 10% global tariff under Section 122 over and above our normal tariffs already being charged,” Trump said.Terming SC’s ruling as a “terrible decision”, Trump announced he would sign an executive order for a 10% global tariff under Section 122 of the Trade Act of 1974. This authority allows for a temporary import surcharge (up to 15%) for 150 days to address balance-of-payments deficits.“Effective immediately, all the national security tariffs under Section 232 and existing Section 301 tariffs remain in place… Today, I will sign an order to impose a 10% global tariff under Section 122 over and above our normal tariffs already being charged,” he said.Also read | Why US Supreme Court struck down Donald Trump’s trade tariffs; explained in 10 points
Nothing changes for India: Trump
Earlier on Friday, Trump said that there will be no change in the India-US trade deal.Trump said, “Nothing changes, they’ll be paying tariffs, and we will not be paying tariffs. So, the deal with India is they pay tariffs. This is a reversal for what it used to be. I think Prime Minister Modi is a great gentleman, a great man, actually, but he was much smarter than the people that he was against in terms of the United States. He was ripping us off, India. So we made a deal with India, it’s a fair deal now, and we are not paying tariffs to them and they are paying tariffs. We did a little flip.”Also read | Nothing changes for India: Donald Trump’s big statement on trade dealEarlier this month, US President Donald Trump and Prime Minister Narendra Modi announced that they had agreed on a trade deal. A delegation from India is expected to travel to the US in the next few days to finalise the interim trade deal.
