India, Feb. 21 -- The US Supreme Court struck down President Donald Trump's sweeping tariff regime in a 6-3 ruling on Friday - and within hours, Trump said he would sign a fresh executive order imposing a 10% global tariff under Section 122 of the Trade Act of 1974, moving to replace the legal architecture the court had just demolished.

Trump also confirmed that all existing Section 232 national security tariffs and Section 301 tariffs would remain fully in force, and announced the initiation of fresh Section 301 investigations into the trading practices of multiple countries. The ruling, and Trump's immediate countermove, together mean that while the legal basis for the tariffs has shifted, the tariffs themselves have not gone away - at...