India Reassesses Trade Strategy Amid US Court's Tariff Ruling
India is evaluating the influence of a US court decision blocking President Trump’s extensive tariffs. The ruling questions Trump's use of the 1977 International Emergency Economic Powers Act for tariffs. An interim trade deal with the US remains under negotiation, with Indian exporters viewing the ruling favorably.
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- India
India is currently reviewing the implications of a recent US court decision that has blocked President Donald Trump from imposing broad tariffs on imports, sources have indicated.
The US court's ruling found that the 1977 International Emergency Economic Powers Act does not authorize the use of such tariffs as Trump had cited. This decision comes in the midst of negotiations between India and the US for an interim trade agreement.
Ajay Srivastava, founder of the Global Trade Research Initiative, emphasized the need for India to reassess its negotiation strategy, as US tariffs potentially stand on shaky legal ground. Talks are ongoing, and concern is growing over the unbalanced nature of proposed trade agreements heavily favoring US interests.
(With inputs from agencies.)
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