In a historic legal showdown on February 20, 2026, the U.S. Supreme Court delivered a major blow to President Trump by ruling 6-3 that his sweeping global tariffs were illegal. The Court clarified that the power to tax and impose duties belongs solely to Congress, not the Executive branch, invalidating tariffs previously imposed under "emergency powers" (IEEPA). A defiant Trump slammed the verdict as a "disgrace" and immediately invoked Section 122 to slap a new 10% temporary global tariff for 150 days. Saruga explains that for India, this is a mixed bag: while the previous 18%-50% "reciprocal tariffs" are gone—potentially leading to billions in refunds for importers—they are now replaced by this new 10% levy. Despite the court's intervention, Trump insists the India-U.S. trade deal remains "fair," ensuring a complex road ahead for global trade.
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