India, Feb. 22 -- Just as India had agreed on the broad modalities of a trade deal with the US, things are up in the air once again. On Friday, the US Supreme Court ruled that Donald Trump invoking the US's International Emergency Economic Powers Act (IEEPA) to impose his "liberation day" tariffs was unconstitutional. Trump has, as expected, criticised the judgment and invoked different provisions to impose a fresh round of tariffs, which he increased from 10% to 15% within a day. There are many unknowns right now.

Legal frameworks for tariffs outside the IEEPA do not grant blanket executive privilege. Does this mean the bargaining chips shift in favour of countries negotiating trade deals with the US? The fine print of the India-US trad...