India postpones trade talks with US after Supreme Court overturns Trump’s tariffs, - Reuters
India has postponed a trip by its representatives to Washington due to uncertainty after the US Supreme Court overturned tariffs imposed by President Donald Trump.
This was reported by Reuters, citing sources, according to Censor.NET.
India suspends negotiations
"The decision to postpone the visit was made after discussions between officials from both countries. A new date for the visit has not yet been set. The delay is mainly due to uncertainty over the size of the tariff following Friday's decision," the source said.
The delegation was scheduled to depart on Sunday, February 22, for negotiations to finalize a temporary trade agreement. According to preliminary agreements, Washington was to reduce punitive tariffs by 25% on some Indian exports related to New Delhi's purchases of Russian oil.
The terms of the agreement provided for a reduction in customs duties on Indian exports to 18%. In return, India agreed to purchase US goods worth $500 billion over five years. The list covered a wide range of products: energy resources, aircraft manufacturing, precious metals, and the technology sector.
However, following the US Supreme Court ruling and Trump's new executive order raising import duties to 15%, India's Ministry of Commerce said it was "studying the implications of the ruling," while the opposition Congress Party called for negotiations to be suspended.
Last week, Indian Trade Minister Piyush Goyal said that the agreement could come into force in April, provided that outstanding issues are resolved during the delegation's visit to Washington.
What preceded it?
- On February 20, the US Supreme Court ruled that US President Donald Trump's sweeping tariffs on imports from other countries, which were imposed under the National Emergencies Act, were unlawful.
- On February 21, US President Donald Trump announced an increase in global tariffs from 10% to 15% in response to the US Supreme Court's decision to overturn his tariff policy on February 20.
- It was later reported that German Chancellor Friedrich Merz said he would travel to Washington with a common European position after the US Supreme Court ruled that US President Donald Trump's sweeping tariffs on imports from other countries were illegal.
