23-February-2026
Economy News
 
Trump’s tariff maths explained – How India will pay more after SCOTUS struck down IEEPA tariffs
23-Feb-2026

Donald Trump announced a 15% global tariff on Saturday following a US Supreme Court verdict that deemed his sweeping reciprocal levies illegal. The President had signed a proclamation soon after the verdict to “impose a temporary surcharge” of 10% for “all articles” imported to the country in the next 150 days. Hours later the POTUS said he was raising this figure with immediate effect. The changes will add up to an average tariff of nearly 18.5% for India — marginally higher than the 18% announced in the interim trade deal. The US Supreme Court ruled 6-3 on Friday that the International Emergency Economic Powers Act (IEEPA) invoked by Trump did not give him authority to tax imports — a power that belongs to Congress. The order passed in April 2025 had consolidated tariffs into a single number for each country and applied to a majority of import items. For India, it had affected roughly 55% of exports to the US while other items (such as steel) faced taxation under different laws.

News Source:- https://www.financialexpress.com/business/news/trumps-tariff-maths-explained-how-india-will-pay-more-after-scotus-struck-down-ieepa-tariffs/4151138/