India, Feb. 21 -- President Donald Trump has invoked an alternative tariff, Section 122 of the Trade Act of 1974, to reinstate 10% global tariff after the U.S. Supreme Court ruled against his earlier tariff actions.

The court's 6-3 decision held that Trump exceeded his authority under the International Emergency Economic Powers Act (IEEPA) by applying sweeping levies on imports from around the world.

In response, Trump announced a 10% global tariff levy that permits the president to temporarily impose tariffs in response to "large and serious" shortfalls in the balance of payments in the U.S. or other circumstances that give rise to "fundamental international payments problems."

"Great certainty has been brought back to the economy of ...