New Delhi [India], February 24 (ANI): The ruling of the US Supreme Court putting down tariffs imposed by US President Donald Trump underneath the International Emergency and Economic Powers Act (IEEPA) is prone to create winners and losers amongst international economies, with India, China, and Brazil rising as beneficiaries, whereas the Euro-zone, UK, Japan, and Singapore might face destructive implications, in keeping with a report by ICICI Bank.
The report acknowledged that ‘the revised tariff construction in the intervening time is prone to create a set of winners (India, China and Brazil) and losers (Euro-zone, UK, Japan and Singapore) whereas it’s unlikely to materially change the outlook for the US economic system.’
The US Supreme Court struck down tariffs that had been imposed underneath IEEPA, successfully nullifying all country-wise reciprocal tariffs in addition to fentanyl-related tariffs that had been carried out in 2025.
This improvement removes sure commerce obstacles that had affected a number of international locations, reshaping the worldwide commerce panorama.
However, the report famous that tariffs imposed underneath part 232 and part 301 won’t be affected by the ruling, which means that some present commerce restrictions will proceed to stay in place.
Despite the courtroom ruling, the US President has saved his tariff agenda in place by imposing a flat common tariff of 15 per cent underneath part 122. This tariff will stay efficient for 150 days.
The report highlighted that it stays unclear whether or not these tariffs will likely be prolonged past this era, as any extension would require approval from the US Congress.
The report additional acknowledged that the Trump administration is prone to shift its technique in the direction of imposing extra sector-specific tariffs utilizing part 301, part 232, part 201, or part 338.
These tariffs require a extra formal course of, together with investigations by related authorities departments, earlier than they are often carried out.
According to the report, this course of would probably take three to 6 months earlier than tariffs underneath these sections could be imposed.
So whereas the Supreme Court ruling has quickly reshaped tariff buildings and created relative benefits for international locations resembling India, China, and Brazil, the broader US tariff technique stays in place, with the administration anticipated to pursue various routes to take care of its commerce coverage aims. (ANI)