US Supreme Court ruling on tariffs: Why Emkay sees India as beneficiary amid Trump’s flip-flops

Synopsis The US Supreme Court struck down Trump’s IEEPA-based tariffs, prompting a recalibration of global trade. The Trump administration responded with a temporary 15% global tariff under Section 122, easing pressure on India and other emerging markets. Emkay estimates India’s effective tariff at 11–13%, benefiting export sectors, while global trade uncertainty persists amid alternative legal and geopolitical considerations. The US Supreme Court’s decision to strike down President Donald Trump’s reciprocal tariffs under the International Emergency Economic Powers Act (IEEPA) has set the stage for another reset in global trade dynamics, with immediate implications for India and other emerging markets. Emkay…