New Delhi: The Commerce Ministry on Saturday said it is assessing the implications of the recent ruling by the US Supreme Court on global tariffs imposed by the Trump administration and the subsequent steps announced by US President Donald Trump.
"We have noted the US Supreme Court judgement on tariffs yesterday (Friday). US President Donald Trump has also addressed a press conference in this regard," the ministry said.
"Some steps have been announced by the US administration. We are studying all these developments for their implications," it added.
The statement from the government comes after the US Supreme Court termed President Donald Trump's sweeping tariffs "illegal" on Friday.
Hours after the top court struck down his earlier sweeping import duties, Trump on Friday said he has signed an executive order imposing a 10% tariff on imports from all countries, escalating his trade agenda.
“It is my Great Honour to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately,” Trump posted from his Truth Social account.
India now faces a reduced tariff rate of 10 per cent, down from 18 per cent. The new duty is slated to take effect on February 24.
“The Supreme Court's ruling is deeply disappointing, and I am ashamed of certain members of the court for not having the courage to do what is right for our country...,” Trump had said at the White House media briefing after the ruling.
