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Former cricketer Aakash Chopra lauded 15-year-old Vaibhav Suryavanshi's powerful IPL innings. He called Suryavanshi a special player but cautioned against fast-tracking him to the Indian team. Chopra believes there is ample time for the young talent's national debut
Trump says US can hold tariffs at 15% for five months
United States President Donald Trump on Tuesday said that Washington could maintain global tariffs at 15% for up to five months.
Speaking at a press conference, Trump also said that his administration “will be coming out with different tariffs on different countries” during this time.
In April 2025, Trump imposed tariffs on dozens of countries, including India, claiming that these countries imposed high tariffs on US goods. The levies were eventually reduced once bilateral trade deals had been agreed to, including in the case of India.
However, the US Supreme Court on February 20 struck down global tariffs imposed by Trump, ruling in a 6:3 verdict that he had exceeded his authority. The judges said that the 1977 International Emergency Economic Powers Act that Trump had invoked “does not authorise the president to impose tariffs”.
After the Supreme Court decision, Trump imposed a temporary 10% tariff on goods imported into the US, citing his authority under the 1974 Trade Act. The new tariff rate is for a maximum of 150 days, unless the US Congress approves an extension.
Additionally, Trump on February 21 said that he was also increasing the tariffs to the “fully allowed, and legally tested” level of 15% from 10% with immediate effect. However, it is unclear as to when the increased tariff rate would take effect.
This had left the status of the US’ trade deals with countries, including India, unclear.
On Tuesday, Trump told reporters that while the Supreme Court had pushed back on his tariffs, it had also outlined alternative routes for imposing duties.
“The courts said ‘no’, but they said you can do it many other ways, and we are doing it,” he said.
The US president claimed that these tariffs had made the country “very rich”. “We have to charge tariffs from countries who play with their money – they move their money up and down, like a yo-yo,” he said.
Trump added that countries were eager to preserve their existing trade arrangements with the US.
New Delhi and Washington had agreed on a framework for the interim deal on February 2.
Under the agreement, US tariffs on Indian goods would have been reduced to 18% from a combined rate of 50%. This earlier rate of 50% had included a punitive levy of 25% imposed in August over India’s purchase of Russian oil.
Amid the uncertainty over the trade deal negotiations, Trump had earlier said that “nothing changes” and that the levies on India will continue. “They will be paying tariffs and we will not be paying tariffs,” he had told reporters at the White House.
However, negotiations on the final deal between New Delhi and Washington have been postponed after the US Supreme Court struck down the global tariffs.
India and the US rescheduled a three-day meeting that was to begin on February 23 between officials to finalise the legal text of the trade agreement.
On February 24, Union Commerce Minister Piyush Goyal said that the negotiations with the US will resume “as soon as there is more clarity” on the changes in tariffs announced by Washington.
Source: Scroll
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