New Delhi, July 27 -- On 24 July, India was slapped with a new US tariff of 10% to replace one that expired. It was among 60 countries this levy was applied to, though it faces a slightly lower rate than Asian rivals like China and Vietnam, thanks to a recent order barring imports made with forced labour.

The 10% duty that was replaced drew on Section 122 of the 1974 US Trade Act, with a 'problem' of payments cited to invoke it. This was both temporary and flaky (the US prints the dollar), but served as a quick resort after America's apex court turfed out last year's big-bang tariffs this February.

The US had erected those 'Liberation Day' import barriers in 2025 on the pretext of a trade deficit cast as an 'emergency'; hollow as this c...