US Ambassador to India Sergio Gor hinted at advancing trade deal talks between the United States and India in a post on social media platform X on Thursday.
Gor's comments came after he had a "highly productive" meeting with America's trade deal representative Jamieson Greer regarding trade priorities in South and Central Asia.
In his post the envoy highlighted that US and India have previously agreed to a trade deal and an Indian delegation will be visiting Washington later in April.
"The United States and India have previously agreed to a trade deal, and we look forward to welcoming an Indian delegation to Washington later this month," Gor stated.
After months of rigorous discussions and anticipation, both countries had inked a trade pact in early February this year. The pact brought much relief to Indian exporters as reciprocal levies were slashed to 18% from an earlier 50% (inclusive of the punitive 25% tariffs for purchase of Russian crude oil).
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However, things took an interesting turn after in a landmark judgement, the US Supreme Court struck down Trump's whopping tariffs stating that the president "overstepped" his authority by using the International Emergency Economic Powers Act to impose his "reciprocal" tariffs across the globe.
ALSO READ: Trump Tariffs Toppled: $175-Billion Jolt? Decoding How The Supreme Court Ruling May Hit US Economy
In the 6-3 opinion, Chief Justice John Roberts wrote, “The President asserts the extraordinary power to unilaterally impose tariffs of unlimited amount, duration, and scope. In light of the breadth, history, and constitutional context of that asserted authority, he must identify clear congressional authorization to exercise it."
He highlighted that IEEPA's grant of authority to “regulate . . . Importation” falls short and that the act contains no reference to tariffs or duties.
The judgement came a few days following India's deal with the United States, leaving much ambiguity in the air. Mere hours after SC's ruling, the Republican President announced 10% global tariffs.
Trump, in a White House press briefing had said he will be using powers vested under Section 122 of the Trade Act of 1974 to impose new tariffs on all trading partners of up to 10%.
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