New Delhi, Feb 22 (IANS) India and Washington have decided to reschedule the official meeting over the interim bilateral trade agreement, so that both sides can factor in the implications of the US Supreme Court judgment striking down the Trump administration’s tariff hikes, according to reliable sources.
A three-day meeting between teams headed by the chief trade negotiators of the two countries was earlier slated to take place in the US on February 23.
A senior official confirmed that the proposed visit of the Indian team to Washington to give the final touches to the bilateral trade deal will be held after the two countries have studied the latest developments that flow from the US Supreme Court judgment. A decision will be taken to set a new date for the meeting that is convenient for both sides, he added.
US President Donald Trump on Saturday raised the global tariffs from 10 per cent to 15 per cent after the big setback in the Supreme Court on Friday.
Taking to Truth Social, Trump wrote, “Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been “ripping” the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level.”
The Supreme Court of the United States on Friday struck down President Donald Trump’s sweeping reciprocal tariff measures, ruling that the executive branch exceeded its constitutional authority by using emergency powers to levy broad import duties.
The judges, in a 6-3 verdict, held that Trump’s aggressive approach to tariffs on products entering the United States from across the world was not permitted under a 1977 law called the International Emergency Economic Powers Act (IEEPA).
The ruling invalidates many, but not all, of Trump’s tariffs. An angry Trump called the judgment a “disgrace” after being informed about it during a meeting with governors. He also said he had a backup plan.
–IANS
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