India delays trade talks with US after Supreme Court ruling on tariffs – Reuters
India has postponed trade talks with the US following a Supreme Court ruling that struck down Donald Trump's tariffs as unconstitutional.
India has decided to delay a planned delegation visit to the US that was intended to finalize a trade deal after the US Supreme Court ruled against former President Donald Trump's tariffs on imports from various countries. The Supreme Court's decision, which was made by a six-to-three vote, found that it was unconstitutional for the President to unilaterally impose or modify tariffs, emphasizing that the authority to tax is vested in Congress. This ruling has significant implications for trade negotiations, particularly those involving the US and its trade partners like India.
The Indian delegation, led by chief negotiator Darpan Jain, was supposed to depart for Washington on Sunday, but the visit has been deferred due to discussions between officials of the two nations. There has yet to be a new date set for the visit, highlighting the uncertainty surrounding trade relations between India and the US in the wake of this judicial decision. Indian Commerce Minister Piyush Goyal previously indicated that an interim trade deal was expected to be operational by April, but this timeline may now be impacted by the delay.
The deferment of these crucial trade talks underscores the wider implications of the Supreme Court ruling, not only for the US but for its trading partners. As both nations strive for economic cooperation, the outcome of these discussions will be pivotal in shaping future trade policies and agreements. The ruling may also serve as a catalyst for other countries reconsidering their trade strategies with the US, given the limitations imposed on tariff-setting by the court's decision.