India-US Trade Deal Meet Postponed After Trump Hikes Global Tariff Rates: Report

New Delhi: India and the United States of America are rescheduling the meeting of chief negotiators over the interim trade deal after President Donald Trump hiked global tariffs to 15%, just a day after imposing 10 % tariffs on all imports, reports said.

This comes after the US Supreme Court on Friday ruled that the President has no authority to impose tariffs on countries by using emergency powers under the International Emergency Economic Powers Act (IEEPA). Expressing his fury over the SC ruling, Trump said he was “absolutely ashamed” of the judges who ruled against the emergency tariffs. He branded the judges “lapdogs”, who are “disloyal to our Constitution". 

Soon after the SC's ruling, Trump imposed a global tariff of 10% on all imports, in addition to any existing tariffs. "It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately," the US President said.

‘India Will Pay Tariffs’: Trump

Addressing a press conference after imposing 10% tariffs, Trump said that “nothing changes” for India, adding, “They’ll be paying tariffs, and we will not be paying tariffs.” He further said, “We made a deal with India, and it’s a fair deal now, and we are not paying tariffs to them, and they are paying tariffs. We didn’t flip.”

15% Tariffs

Just a day after imposing 10% tariffs, Trump raised hiked the same to 15%, claiming that the decision was based on a detailed and thorough review of the "ridiculous" ruling of the court. In a post on his Truth Social account, Trump said the tariffs aim to make America great again.

Justifying the imposition of the tariffs, Trump claimed that several countries have been “ripping” the US off for decades without retribution.

Also Read- Trump Raises Global Tariffs From 10% To 15% A Day After Supreme Court's Ruling