Onlykashmir.in News Desk
The three-day talks on the interim trade agreement between India and the US in Washington have been postponed after the recent ruling of the US Supreme Court. According to media reports, Indian chief trade negotiator Darpan Jain was scheduled to visit the US in this regard.
The US currently has a 25 percent retaliatory tariff on India, which was expected to be reduced to 18 percent under the interim agreement. The two countries had planned to finalize the agreement in March and implement it from April, but the latest court ruling has changed the situation.
The US Supreme Court ruled that President Donald Trump exceeded his authority under the Emergency Economic Powers Act in imposing broad tariffs. Following the ruling, Trump announced a 15 percent global tariff under Section 122 of the Trade Act of 1974, which can be implemented for 150 days.
US Treasury Secretary Scott Besant has indicated that the administration is considering other legal avenues to continue the tariff policy.
Notably, India joined the US-led Pax Celica strategic alliance on Friday, when the two countries signed the Pax Celica Declaration. The signing took place in the presence of Union Minister Ashwini Vaishnoi and US Assistant Secretary of State for Economic Affairs Jose W. Holberg.
US Ambassador to India Sergio Gore said, “India has joined this alliance that will shape the economic and technological order of the 21st century.”
Trump threatens more tariffs
War News
US President Donald Trump has warned that if any country tries to take advantage of the recent Supreme Court ruling, it will be subject to even higher tariffs. The court had declared his previous extensive tariffs illegal, saying that he exceeded his authority under the International Emergency Economic Powers Act.
Trump said in a social media message that countries that have been exploiting the United States for years and will now try to play by the court ruling will face even tougher tariffs. He warned that buyers beware.
In another statement, Trump claimed that as president, he does not need congressional approval for tariffs because this authority has already been given in various forms, and the recent court ruling also confirms it.
