Trump tariffs highlights: Trump raises global tariff to 15% day after Supreme Court ruling

Trump tariffs live updates: The majority included three conservative justices, Chief Justice John Roberts, Justice Neil Gorsuch and Justice Amy Coney Barrett, along with three liberals, Justices Elena Kagan, Sonia Sotomayor and Ketanji Brown Jackson.

Three other conservative justices dissented: Clarence Thomas, Samuel Alito and Brett Kavanaugh.

Trump tariffs live updates: After an agreement was reached on a framework for an interim trade deal in February, the US said it would cut the reciprocal tariff on India to 18 per cent and scrap the additional 25 per cent punitive tariffs.

After the US Supreme Court struck down President Donald Trump’s global tariffs and Washington issued a fresh order introducing a temporary 10 per cent import surcharge, Indian goods will now face only a 10 per cent reciprocal levy from February 24, 2026.

Trump’s proclamation dated February 20 said: "I impose, for a period of 150 days, a temporary import surcharge of 10 per cent ad valorem on articles imported into the United States, effective February 24, 2026" at 12:01 a.m. Eastern Standard Time.

Trump tariffs live updates: The executive orders signed by Trump introducing the new 10% global tariff continued exemptions already in place for aerospace products; passenger cars and some light trucks; goods from Mexico and Canada that are compliant with the U.S.-Mexico-Canada trade agreement; pharmaceuticals and certain critical minerals and agricultural products.

Trump's Treasury Secretary, Scott Bessent, said the new 10% duties and potentially enhanced tariffs under the Section 301 unfair practices statute and the Section 232 national security statute would result in virtually unchanged tariff revenue in 2026.

"We will get back to the same tariff level for the countries. It will just be in a less direct and slightly more convoluted manner," Bessent told Fox News, adding that the Supreme Court decision had reduced Trump's negotiating leverage with trading partners. (Reuters)

Trump tariffs live updates: Congress president Mallikarjun Kharge on Saturday questioned whether the Narendra Modi-led Union government has a "clueless foreign policy" or has engaged in a "one-sided surrender" to the US, following the American apex court's dismissal of global tariffs imposed by President Donald Trump.

In a post on X, Kharge asked why the Centre did not wait for the US court's verdict before rushing into an interim trade deal, which he called a "trap deal." He criticised the deal's joint statement for including zero tariffs on several American exports, effectively opening India's agriculture to US goods, a plan to import USD 500 billion worth of US products, a halt on purchasing Russian oil that could hurt India's energy security, and multiple digital tax concessions.

Trump tariffs live updates: US President Donald Trump signed an executive order ending “certain tariff actions” and a proclamation to impose a “temporary import surcharge” after the country’s Supreme Court struck down his sweeping tariffs, terming them “illegal”. The temporary 10 per cent import duty will take effect on February 24 at 12:01 am Eastern Standard Time.

After removing certain tariffs, the US president signed a proclamation imposing a 10 per cent “temporary import surcharge” as “ad valorem duties” on goods entering the American market. Read full story here.

Trump tariffs live updates: After the US Supreme Court struck down President Donald Trump’s global tariffs and Washington issued a fresh order imposing a temporary 10 per cent import surcharge, Indian goods will now be subject to only a 10 per cent reciprocal levy from February 24, trade experts and exporters said on Saturday.

Later, Trump’s proclamation dated February 20 said: "I impose, for a period of 150 days, a temporary import surcharge of 10 per cent ad valorem on articles imported into the United States, effective February 24, 2026".

Trump tariffs live updates: One of the biggest unresolved questions is what happens to the roughly $133.5 billion - a figure mentioned in a AFP news agency report -in tariffs collected between January 2025 and mid-December.

The Supreme Court did not address whether the funds must be returned. That issue is now expected to be fought out in lower courts.

ING analysts Carsten Brzeski and Julian Geib said the US Court of International Trade will likely oversee the process, according to AFP.

"Refunds won't come automatically, as any importer that wants its money back must sue individually," they were quoted as saying.

Trump tariffs live updates: After the US Supreme Court ruled against global tariffs imposed by President Donald Trump, Lok Sabha Leader of Opposition Rahul Gandhi attacked Prime Minister Narendra Modi over the India-United States interim trade deal.

In a post on X, Rahul Gandhi again accused the Prime Minister of being "compromised" and said his "betrayal now stands exposed." He also claimed that Modi would not be able to renegotiate the agreement and would "surrender again."

"The PM is compromised. His betrayal now stands exposed. He can't renegotiate. He will surrender again," Rahul Gandhi wrote.

Trump tariffs live updates: A small Illinois toymaker’s legal gamble has culminated in a ruling that could reshape President Donald Trump’s tariff policy and potentially unlock billions of dollars in refunds for US importers.

Learning Resources, which imports most of its educational toys from China, filed suit last April soon after the tariffs were announced. The company argued that the duties would significantly hurt small import-dependent businesses. Read more here.

Trump tariffs live updates: US President Donald Trump also signed a proclamation, announcing a temporary import surcharge, which is an extra tax on many goods entering the United States from other countries.

A 10 percent ad valorem import surcharge is being imposed. This means most imported goods will face an additional 10 percent duty based on their value.

Trump tariffs live updates: US President Donald Trump signed an executive order that cancels certain additional import tariffs the US had imposed under emergency powers. These extra duties were earlier introduced through multiple executive orders that declared national emergencies related to national security, foreign policy or economic threats involving several countries.

This comes after the US Supreme Court on Friday struck down Donald Trump’s sweeping global tariffs.

It is worth noting that the order ends the extra ad valorem tariffs that were imposed under the International Emergency Economic Powers Act (IEEPA).

The national emergency declarations behind those earlier orders remain in force. Only the specific additional tariffs imposed under that authority are being terminated. Other tariffs imposed under different laws remain unaffected.

Trump tariffs live updates: Taiwan said on Saturday that it was closely watching the US Supreme Court’s ruling on tariffs and the Trump administration’s decision to impose a flat global tariff of 10%, news agency Reuters reported.

"While the initial impact on Taiwan appears limited, the government will closely monitor developments and maintain close communication with the United States," the island's cabinet said in a statement.

Meanwhile, a senior official in Hong Kong said that Trump’s decision to introduce a new 10% tariff on imports entering the US will benefit Hong Kong as a trade hub.

Christopher Hui, the secretary for financial services and the treasury, described the tariff situation in the US as a "fiasco" during an interview with Commercial Radio Hong Kong.

Trump tariffs live updates: US trading partners, including India, that had finalised tariff agreements with Donald Trump’s administration before the Supreme Court verdict will now face a 10 per cent duty, even if they had earlier agreed to higher rates, the White House said.

Trump on Friday imposed an additional 10 percent tariff on imports into the United States after the Supreme Court struck down many of his sweeping tariffs. The new duty is set to take effect on February 24 for 150 days.

Trump tariffs live updates: The American top court did not deal with the refunds issue, and analysts say lower courts will decide it in the coming months.

The US Court of International Trade is likely to handle this process, ING analysts Carsten Brzeski and Julian Geib told news agency AFP.

"Refunds won't come automatically, as any importer that wants its money back must sue individually," they said.

"This process has already kicked off, with over 1,000 corporate entities now involved in a legal fight."

Trump tariffs live updates: US President Donald Trump hailed his “fantastic” relationship with India and went on to claim that New Delhi “pulled way back” from purchasing Russian oil at his “request” when asked about how the US Supreme Court's tariffs ruling would impact ties and trade with India.

"I think my relationship with India is fantastic, and we're doing trade with India. India pulled out of Russia. India was getting its oil from Russia. And they pulled way back at my request because we want to settle that horrible war where 25,000 people are dying every month," Trump said.

Trump tariffs live updates: Congress MP Jairam Ramesh criticised Prime Minister Narendra Modi over the timing of the India US trade deal announcement on February 2, alleging urgency and political diversion.

In a post on X, Ramesh referred to remarks made by US President Donald Trump after a US Supreme Court ruling struck down his reciprocal tariffs policy.

"Yesterday after the US Supreme Court struck down his tariffs policy, President Trump declared that (i) Mr. Modi is his great friend; (ii) the India-US trade deal will continue as announced; (iii) he had personally halted Operation Sindoor on May 10 2025 by threatening to increase tariffs on Indian exports to the US if India did not halt Operation Sindoor. On Feb 2 2026, President Trump was the first to announce that the India-US had been finalised and saying that 'out of friendship and respect for Prime Minister Modi and, AS PER HIS REQUEST, EFFECTIVE IMMEDIATELY, we agreed to a trade deal between the United States and India...'," Ramesh wrote.

Trump tariffs live updates: US President Donald Trump will travel to China from March 31 to April 2 for a closely-watched meeting between the leaders of the world’s two largest economies.

The visit was announced as the Supreme Court overturned Trump’s wide ranging tariffs on imported goods. A White House official confirmed the trip on Friday, shortly before the highest US court handed Trump a major setback by striking down many of the tariffs he used during a global trade dispute, including some targeting rival China.

Trump’s discussions with Chinese President Xi Jinping during the extended Beijing visit were expected to focus on extending a trade truce that had prevented both sides from raising tariffs further.

Trump tariffs live updates: Trump has already said that "alternatives will be used" to replace the tariffs that the court has "incorrectly rejected."

"Other alternatives will now be used to replace the ones that the court incorrectly rejected. We have alternatives. Could be more money, we will take in more money... We have taken in hundreds of billions of dollars. We will continue to do so," he said.

Trump, calling the decision "ludicrous", added that it helps other countries but not the US. He also claimed that the courts are "swayed by foreign interests."

Trump news live updates: US President Donald Trump on Friday delivered a scathing personal rebuke of the Supreme Court justices who invalidated his global tariffs, including two he nominated, alleging they were being “swayed by foreign interests.”

“I’m ashamed of certain members of the court, absolutely ashamed, for not having the courage to do what’s right for our country,” Trump told reporters at a White House press conference.

“They’re very unpatriotic and disloyal to our Constitution,” he said, at one point dismissing them as “fools and lap dogs.”

Trump news live updates: The Congress on Friday welcomed the US Supreme Court ruling that struck down President Donald Trump's global tariffs and said the American system of checks and balances still appears to be functioning.

In a post on X, Congress general secretary in-charge communications Jairam Ramesh said, "Hats off to the US Supreme Court for striking down President Trump's entire tariff strategy! Quite an amazing decision given its ideological composition.

"A 6-3 verdict is decisive. The American system of checks and balances still seems to be working," he said.

Senior Congress leader P Chidambaram said the government must explain the impact of the judgment on the "deal" that was announced on February 6 between the US and India.

Trump news live updates: US President Donald Trump said that at his request, India "pulled way back" from buying Russian oil and added that the ruling would not affect the trade deal announced earlier this month by Washington and New Delhi. He also spoke about his "great" relationship with Prime Minister Narendra Modi.

"Nothing changes. They'll (India) be paying tariffs, and we will not be paying tariffs. So deal with India is they pay tariffs. This is a reversal for what it used to be. As you know, India and I think Prime Minister Modi is a great gentleman, a great man, actually, but he was much smarter than the people that he was against in terms of the United States, he was ripping us off. So we made a deal with India. It's a fair deal now, and we are not paying tariffs to them, and they are paying tariffs. We did a little flip," Trump said.

Trump news live updates: Governor JB Pritzker sent Donald Trump an invoice on Friday seeking nearly $9 billion in tariff refunds for Illinois families after the US Supreme Court ruled that the president’s widely promoted tariffs were illegal.

Pritzker urged the White House to "cut the check" after the justices ruled 6-3 that Trump had gone beyond his authority by using emergency powers to impose tariffs that reshaped global trade and raised prices at home.

Earlier on Friday, California Governor Gavin Newsom said the money collected through Trump’s tariffs came from the pockets of US voters and should be returned.

Trump tariffs live updates: The US president made clear on Friday that he did not appreciate that two of the justices he nominated sided against him on his signature economic policy, and did so in extraordinarily direct, personal terms.

“I think it’s an embarrassment to their families,” Trump said of the decision by Justices Amy Coney Barrett and Neil Gorsuch, who joined Chief Justice John Roberts and the court’s three liberal members in the 6-3 ruling that said the president’s global tariffs exceeded his authority.

Trump tariffs live updates: Friday opened a new chapter in Trump’s ongoing tariffs drama and raised urgent questions about his ability to make good on his promises of an economic revival.

The ruling will most likely prolong chaos in international trade through the midterm elections, with much unknown about Trump's next steps and whether roughly $175 billion in import taxes that the Supreme Court struck down will be refunded.

Trump tariffs live updates: The never-used Section 122 authority allows the president to impose duties of up to 15% for as long as 150 days on any or all countries to deal with "large and serious" balance of payments problems.

It does not require investigations or other procedural steps. After 150 days, Congress would have to approve any extension.

"We have alternatives, great alternatives," Trump said. "Could be more money. We'll take in more money and we'll be a lot stronger for it," Trump said while speaking about the alternative options.

The 10% tariff order cited the Section 122 law as its basis, saying the United States had a "large and serious balance of payments deficit" and that the situation was worsening.