US Supreme Court puts off decision again, ETCFO
For the second time, the US Supreme Court on Wednesday refrained to issue a decision on the legality of President Donald Trump’s global tariff regime.
Moreover, in keeping with practice, the top court did not announce a future date for the declaration of the verdict.
During arguments held on November 5, both conservative and liberal justices raised questions about the legal foundation of the tariffs, which Trump imposed by invoking the 1977 International Emergency Economic Powers Act.
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The legislation was originally intended for extraordinary national emergencies. The administration is currently appealing lower court rulings that found Trump exceeded his authority.
Using the IEEPA, the Republican president imposed high duties, in many cases between 10% and 50%, on imported goods from around the world.
Critics in the United States have argued that the president overstepped his constitutional authority by using this law, which was originally designed for genuine national emergencies.
President Trump has warned repeatedly that overturning his tariffs could create chaos for the US economy. He claimed on social platforms that refunding billions of dollars in previously collected tariff revenue would be a “complete mess” if the court strikes them down.
“If the Supreme Court rules against the United States of America on this National Security bonanza,” Trump wrote, “WE’RE SCREWED!,” he had also said in a post on Truth Social prior to the expected verdict on Wednesday.
Trump tariffs’ India impact
India has been among the countries most affected by the duty hikes.
The total tariff burden on Indian exports to the United States reached up to 50% after additional penalties were applied over energy trade decisions with Russia – a move that New Delhi has repeatedly called “unfair and punitive”.
In addition to that, the White House on Tuesday slapped another 25% tariffs on all trade with the US to all countries trading with Iran in which India stands as a major partner to Tel Aviv.
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Analysts say the existing tariff measures have already begun to take a toll on Indian exporters, with industries such as diamonds facing sharp drops in overseas demand.
Market sentiment in India has remained cautious as investors await clarity from the US Supreme Court. Should the tariffs remain in force, prospects of early trade concessions may weaken, prolonging stress on export-focused businesses and keeping currency markets on edge amid persistent global trade uncertainty.
Meanwhile, India has reiterated that negotiations with the US over a proposed trade agreement are ongoing, countering claims by American officials that an important discussion between the two sides never happened.
