U.S. Supreme Court Blocks Trump Tariffs, New Global Levy Imposed Under Trade Act

In a major setback to President Donald Trump, the US Supreme Court has ruled his sweeping global tariffs illegal. US Customs and Border Protection has stopped collecting duties from February 24, though a new 10–15% tariff has been imposed under Section 122 of the Trade Act. Refunds worth an estimated $175 billion remain unclear, even as FedEx moves court for full repayment. For India, the ruling eases pressure on exports, but trade talks now hang in uncertainty amid warnings of tougher tariffs.