Tariff Reset: What Trump’s New 10% Global Duty Means for India

Within hours of the US Supreme court ruling the reciprocal and fentanyl-linked tariffs void, US President Donald Trump announced a temporary 10% tariff on imports from its trading partners. The White House said this 10% tariff would apply to countries including India, even if they had earlier agreed to higher tariff rates under previous trade arrangements with the Trump administration. These new tariffs have been introduced under Section 122 of the Trade Act of 1974. They will take effect from February 24, 2026 and will remain in place for up to 150 days. This brief back and forth between the…