US President Donald Trump issued a fresh tariff warning against countries that are ‘ripping the US off.” Despite the US Supreme Court ruling, Trump said that those countries who will ‘play games’ with US will slapped with much higher tariffs.
“Any Country that wants to “play games” with the ridiculous Supreme Court decision, especially those that have “Ripped Off” the U.S.A. for years, and even decades, will be met with a much higher Tariff, and worse, than that which they just recently agreed to. BUYER BEWARE!!! Thank you for your attention to this matter,” Trump said in a post on Truth Social.
Meanwhile, the European Union halted the agreement of its trade deal with the US after Trump’s announcement on Saturday of imposing a global tariff of 15% under a new legal authority, that triggered panic across the bloc, as per the Politico.
Trump invoked Section 122 of the US Trade Act of 1974 to impose latest global tariffs. These tariffs is scheduled to take effect on Tuesday, would perceived as “stack” on top of any existing most-favoured-nation rate, as per Politico.
From Brussels’ perspective, this would constitute a direct violation of the Turnberry Accord, as well as a later joint statement that solidified the agreement, which the EU maintains established an “all-inclusive” tariff capped at 15% for most goods.
On the other hand, the planned meeting of the chief negotiators of India and the US in the Washington DC, aimed at finalising discussions on the proposed India-US trade deal, will be postponed and rescheduled, as per the sources in the Commerce Ministry on Sunday.
“The two sides are of the view that the proposed visit of the Indian Chief Negotiator and the team be scheduled after each side has had the time to evaluate the latest developments and their implications. The meeting will be rescheduled at a mutually convenient date,” news agency ANI reported citing sources in the Commerce Ministry.
On February 20, the Supreme Court in its 6–3 ruling noted that Donald Trump overstepped his authority by using the IEEPA to impose broad import tariffs, finding the law did not grant him such powers.
Within hours, Trump announced a blanket tariff on all US imports starting Tuesday, initially 10%, then quickly raised to 15% surprising some officials.
These new duties invoke Section 122 of US trade law, allowing tariffs up to 15% but requiring congressional approval if maintained beyond 150 days.
