While Trump later proposed 15% global tariff, Bloomberg Economics estimated that it equals about 12% effective rate, the lowest since his 'Liberation Day' tariffs were released in April.
IEEPA vs Section 122: The legal battle behind Trump’s tariffs. A deeper look into laws behind the emergency powers the top court examined, and the trade rules Trump pulled out to reset tariffs.
The new 15% universal levy overrides the interim tariff framework for India, under which Trump had slashed reciprocal duties from 25 percent to 18 percent. The trade deal is on, he says.
US President Donald Trump imposed a number of tariffs under the International Emergency Economic Powers Act of 1977, a law that had never been used for such action previously.
US had imposed penalty tariff on India at the end of August 2025, citing purchase of Russian oil. Trump, Modi announced reduction of reciprocal tariffs earlier Monday.
India’s merchandise exports to US remain positive, despite 50% tariffs, while imports from US grew by 12.85% in the first three quarters of the financial year.
UK, EFTA already in the bag and EU on the way, many members of RCEP except China signed up, and even restrictions on China being lifted, India has changed its mind on trade.
Racism is a problem for privileged mainlanders only when it's meted out to them abroad. In their own backyard, it's normalised as 'I was just kidding. Chill yaar'.
The 7 February incident involving Tejas aircraft caused severe damage to its frame. IAF and HAL are working together as part of the Board of Inquiry (BoI) to probe the incident.
COMMENTS