New Delhi, Feb. 21 -- The US Supreme Court's decision to strike down President Donald Trump's emergency tariff measures marks a significant shift in American trade policy, even as the administration has quickly imposed a fresh 10 per cent global import duty under an alternative legal route, according to a detailed analysis by SBI Research.
In its latest report "Leaning Into the Wind: US Supreme Court Scraps US Tariff," released here on Saturday SBI Research said the court's 6-3 verdict invalidated the administration's use of the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs.
The court ruled that the Constitution grants Congress - not the President - the authority to levy taxes and duties during peacetime, ...