Washington DC: Amid the ongoing battle with the US Supreme Court over rejecting his global tariffs as ‘unlawful’, United States President Donald Trump on Monday (local time) issued a fresh threat to countries that want to “play games”. He warned these countries of a ‘much higher tariff and worse’. Last week on Friday, SCOTUS ruled 6-3 against the tariffs, stating that Trump had exceeded his legal powers. Following the ruling, the US President signed an executive order imposing a 10 percent global tariff on foreign goods entering the US.
Meanwhile, the European Union stopped the agreement of its trade deal with the US as Trump said on Saturday he would impose a global tariff of 15 per cent under a new legal authority — triggering alarm across the bloc, as per Politico.
“Any Country that wants to “play games” with the ridiculous Supreme Court decision, especially those that have “Ripped Off” the U.S.A. for years, and even decades, will be met with a much higher Tariff, and worse, than that which they just recently agreed to. BUYER BEWARE!!! Thank you for your attention to this matter,” Trump said in a post on Truth Social.
Trump’s latest tariffs, invoked under Section 122 of the US Trade Act of 1974 and due to take effect on Tuesday, would appear to “stack” on top of any existing most-favored-nation rate, as per Politico.
This, in the view of Brussels, would be a direct breach of the Turnberry accord and of a subsequent joint statement locking down the deal that, the EU argues, set an “all-inclusive” tariff of no more than 15 per cent on most goods.
The crucial meeting between Indian negotiators and US officials is scheduled to take place in Washington, DC. The meeting will finalise further discussions on the rescheduling of the proposed India-US trade deal, as per sources in the Commerce Ministry.
“The two sides are of the view that the proposed visit of the Indian Chief Negotiator and the team be scheduled after each side has had the time to evaluate the latest developments and their implications. The meeting will be rescheduled at a mutually convenient date,” sources in the Commerce Ministry told news agency ANI.
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