Trump tariffs, Feb. 22 -- The US Supreme Court invalidated the reciprocal tariffs that had been imposed on trading partners by the administration of Donald Trump. Within hours of the ruling, US President Trump announced a 10% global tariff applicable to all countries.

In a post on Truth Social, Donald Trump criticised the court's ruling and announced an increase in the global tariff rate from 10% to 15%, describing it as "legally tested" and essential to safeguard US interests. He also stated that the administration would assess and roll out additional legally permissible tariffs in the coming months.

"For India, this effectively resets the interim US-India trade arrangement, limiting tariff exposure to 10% for now. While this introduce...