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The full story of Trump tariff revival and India-US trade talks

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PoliticsHindustan Times

The tariffs that just won’t die

in5points
  1. The Supreme Court struck down the main legal foundation of Donald Trump's tariffs in February, but the tariffs have been revived under old statutes.

  2. On July 15, the administration imposed 25% duties on selected Brazilian goods under Section 301 of the Trade Act of 1974.

  3. On July 20, Trump invoked a provision of the Smoot-Hawley Tariff Act to impose 50% levies on selected Canadian goods, covering nearly $20bn of imports.

  4. The broad tariffs announced on 'Liberation Day' were initially based on the International Emergency Economic Powers Act, but after the Supreme Court ruling, a temporary surcharge under Section 122 of the Trade Act of 1974 was used, expiring on July 24.

  5. Future tariffs are expected to come via Section 301 forced-labour duties on 60 countries.

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Shobhana Bhartia

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Shobhana Bhartia (Birla family)

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