Feb 21 News Live: India 'studying developments' of US SC order on Trump tariffs

DMK sets up TR Baalu-led panel for talks with allies

The ruling DMK on Saturday announced the constitution of a 7-member seat-sharing committee under party’s senior leader T R Baalu to hold parleys with its allies for the forthcoming assembly polls.

With the Tamil Nadu Assembly session ending on February 20, the DMK, which has been focussing on training its booth committee members, and undertaking a membership drive, said the panel had been formed to commence the talks with allies.

The party’s treasurer Baalu will head the committee. DMK’s principal secretary K N Nehru, deputy general secretaries Tiruchi Siva, A Raja, organisation secretary R S Bharathi, and DMK high-level executive committee members E V Velu and M R K Panneerselvam, are among the members of the committee.

Greer says US trade deals intact after tariff ruling

US Trade Representative Jamieson Greer said on Friday that Washington’s trade agreements will stay intact despite the Supreme Court’s ruling limiting the administration’s use of the International Emergency Economic Powers Act to impose tariffs. Speaking to Fox News and later posting on X, Greer stressed that existing arrangements remain operational.

"Our trade deals covering over half of the world's population remain in full effect," he wrote.

Greer said the administration is prepared to rely on other statutory tools if necessary. "It helped us obtain tons of deals covering half of the world's population and opening up market access we haven't enjoyed for 30 years and we have these agreements so we'll just use a different tool. The tools may change but the policy remains the same and IEEPA was a part of that", Greer said.

He pointed to alternative mechanisms available to the White House. "Section 122 which allows a 10 per cent tariff to be imposed on a temporary basis... Simultaneously, the office of the US Trade Representative will initiate a number of investigations under Section 301 of unfair trading practices by a number of different countries to assess if we can impose tariffs on that basis if we need to... We have existing national security tariffs on autos, steel, aluminum etc. So the tools may change but the policy remains the same."

On current agreements, Greer added, "Those agreements hold. They remain, we will honour them and we expect our trading partners to honour them".

The remarks followed a 6–3 Supreme Court decision finding the administration exceeded its authority under IEEPA. In response, President Donald Trump announced 10 per cent global tariffs "effective immediately" and said, "Effective immediately, all the national security tariffs under Section 232 and existing Section 301 tariffs remain in place... Today, I will sign an order to impose a 10% global tariff under Section 122 over and above our normal tariffs already being charged."

Trump has maintained that "alternatives will be used" and said, "Other alternatives will now be used to replace the ones that the court incorrectly rejected. We have alternatives. Could be more money, we will take in more money... We have taken in hundreds of billions of dollars. We will continue to do so," he said, calling the ruling "ludicrous" and alleging the courts are "swayed by foreign interests."

Bessent says tariff revenue to hold after court ruling

US Treasury Secretary Scott Bessent said the Supreme Court’s recent decision narrows how the administration can use the International Emergency Economic Powers Act, but does not dismantle President Donald Trump’s broader tariff strategy.

Addressing the Dallas Economic Club, Bessent pushed back on critics who framed the ruling as a sweeping defeat. "Let's be clear about what today's ruling WAS and what it WASN'T. Despite the misplaced gloating from Democrats, ill-informed media outlets, and the very people who gutted our industrial base, the Court did not rule against President Trump's tariffs. Six justices simply ruled that IEEPA authorities cannot be used to raise even USD 1 of revenue."

He said the administration is preparing to shift its legal footing. "This administration will invoke alternative legal authorities to replace the IEEPA tariffs. We will be leveraging Section 232 and Section 301 tariff authorities that have been validated through thousands of legal challenges. Treasury's estimates show that the use of Section 122 authority, combined with potentially enhanced Section 232 and Section 301 tariffs, will result in virtually unchanged tariff revenue in 2026," he added.

The Supreme Court ruled 6–3 that the administration exceeded its authority under IEEPA in imposing broad import duties. Chief Justice John Roberts and five other justices concluded the law does not grant the president power to levy sweeping tariffs, a responsibility assigned to Congress. Three conservative justices dissented.

The judgment voided billions in emergency and “reciprocal” tariffs and could compel refunds estimated between $130 billion and $175 billion.

Trump says India cut Russian oil purchases at his behest

US President Donald Trump praised what he described as a strong equation with India, saying bilateral trade remains on track even as questions swirl over the Supreme Court’s ruling on his tariff powers.

Asked how the judgment might affect economic ties with New Delhi, Trump said the partnership remains solid and claimed India scaled back its purchases of Russian oil after he intervened.

"I think my relationship with India is fantastic, and we're doing trade with India. India pulled out of Russia. India was getting its oil from Russia. And they pulled way back at my request because we want to settle that horrible war where 25,000 people are dying every month," Trump said as quoted by the Hindustan Times.

Trump to visit China after Supreme Court tariff setback

US President Donald Trump is set to visit China from March 31 to April 2 for a high-profile meeting between the heads of the world’s two biggest economies.

The announcement of the trip came as the Supreme Court moved to invalidate a broad swath of Trump’s tariffs on imported products. A White House official confirmed the travel plans on Friday, just before the nation’s top court delivered a significant blow by striking down several of the duties imposed during a global trade standoff, including measures aimed at China, reported the Hindustan Times.

During the multi-day stay in Beijing, Trump is expected to meet Chinese President Xi Jinping, with talks likely centred on prolonging a trade truce that has kept both countries from escalating tariffs further.

Jairam Ramesh questions timing of India-US trade deal after tariff verdict

Congress leader Jairam Ramesh has raised questions about the timing of the February 2 announcement of the India–US trade agreement, suggesting it reflected urgency and possible political calculation.

In a post on X, Ramesh cited remarks made by US President Donald Trump after the US Supreme Court struck down his reciprocal tariffs policy.

"Yesterday after the US Supreme Court struck down his tariffs policy, President Trump declared that (i) Mr. Modi is his great friend; (ii) the India-US trade deal will continue as announced; (iii) he had personally halted Operation Sindoor on May 10 2025 by threatening to increase tariffs on Indian exports to the US if India did not halt Operation Sindoor.

He continued, "On Feb 2 2026, President Trump was the first to announce that the India-US had been finalised and saying that 'out of friendship and respect for Prime Minister Modi and, AS PER HIS REQUEST, EFFECTIVE IMMEDIATELY, we agreed to a trade deal between the United States and India...'," Ramesh wrote.

By placing Trump’s comments alongside the court ruling, Ramesh suggested the trade deal’s rollout came against a charged political backdrop in Washington.

India faces 10 per cent US tariff as White House pushes deal compliance

The US has rolled out a 10 per cent global tariff, a levy that India is expected to absorb under its emerging trade arrangement with Washington. A White House official confirmed the duty would stay in place unless replaced through a different legal channel. Asked whether India would face the 10 per cent rate and whether it would supersede earlier tariffs imposed under the International Emergency Economic Powers Act, the official told ANI, "Yes, 10 per cent until another authority is invoked." The official added that trade partners are expected to honour their agreements with the US.

The announcement followed a 6-3 Supreme Court ruling that found the administration overstepped its authority by using IEEPA to justify sweeping import duties. Chief Justice John Roberts, joined by Neil Gorsuch, Amy Coney Barrett and the court’s three liberal justices, said the 1977 law does not grant the president power to impose broad tariffs, as the authority lies with Congress as per the US Constitution. Samuel Alito, Clarence Thomas and Brett Kavanaugh dissented.

Calling the judgment a "terrible decision," Trump said, "Effective immediately, all the national security tariffs under Section 232 and existing Section 301 tariffs remain in place... Today, I will sign an order to impose a 10% global tariff under Section 122 over and above our normal tariffs already being charged."

He insisted "alternatives will be used" and declared, "Other alternatives will now be used to replace the ones that the court incorrectly rejected. We have alternatives. Could be more money, we will take in more money... We have taken in hundreds of billions of dollars. We will continue to do so."

Labelling the ruling "ludicrous," Trump argued, "To show you how ridiculous the opinion is, the court said that I am not allowed to charge even 1 dollar... I cannot charge 1 dollar to any country under IEEPA I assume this must be done to protect other countries, certainly not the United States of America. I am allowed to cut off any or all trade or business with any country. In other words, I can destroy the trade. I can destroy the country. I can do anything I want but I can't charge one dollar. How ridiculous is that? Their decision is incorrect," he said.

He went further: "Foreign countries that have been ripping us off for years are ecstatic. They are dancing in the streets, but they won't be dancing for long... Those justices are a disgrace to our nation... The court has been swayed by foreign interests and a political movement that is far smaller than people would ever think," he said.

The court’s decision wipes out billions in emergency and “reciprocal” tariffs and could force refunds estimated between $130 billion and $175 billion. Markets rose on hopes of easing price pressures, though gains narrowed after Trump signalled fresh trade actions.

Trump vows new tariff options after US Supreme Court strikes down global tariffs

President Donald Trump signalled he is prepared to pursue new trade measures after a court ruling blocked a set of tariffs his administration had advanced.

He made clear he does not see the decision as the end of the matter.

"Other alternatives will now be used to replace the ones that the court incorrectly rejected. We have alternatives. Could be more money, we will take in more money... We have taken in hundreds of billions of dollars. We will continue to do so," he said as quoted by the Hindustan Times.

Trump dismissed the ruling as “ludicrous,” arguing it benefits foreign nations at the expense of the United States. He also alleged that the courts are “swayed by foreign interests,” casting the decision as part of a broader pattern he believes disadvantages the country.

The former president did not outline specific replacement measures but indicated additional revenue-raising steps are under consideration.

Gorsuch, Barrett's families should be embarrassed: Trump

Donald Trump is clearly fuming at two of the justices he nominated in his first term who sided against his tariff policy.

“I think it's an embarrassment to their families, if you want to know the truth. The two of them,” Trump said of Gorsuch and Barrett.

He said, “Their decision was terrible.” Still, he declined to say whether he regretted nominating them.

Trump says his reading prowess is above reproach.  “I read very well. Great comprehension,” Trump said.

The US President said that, when it came to the tariffs case, “I read everything there is to read. And I said, Can't lose this case.'”

What is the mood in the US?

About 6 in 10 Americans said Trump had gone too far on imposing new tariffs on other countries, according to an AP-NORC poll from January.

Even more worrisome for a president elected on the promise of fixing Americans' concerns about affordability, 76 per cent said in a poll conducted last April that Trump's tariff policies would increase the cost of consumer goods in the US Trump used tariffs to reshape Republican trade agenda.

Trump's aggressive use of tariffs had left many Republican lawmakers uneasy, publicly and privately, forcing them to defend what were essentially tax increases on the American public and businesses.

At various points during Trump's second term, at least 7 senators from the president's party have expressed concerns. Earlier this month, six House Republicans joined with Democrats to vote for a resolution against Trump's tariffs on Canada.