Trump's Tariff Power Faces Supreme Court Test: India's Economic Future at Stake

• The US Supreme Court will rule on the legality of tariffs imposed by President Trump under emergency powers, impacting global trade.
• The decision could either curb Trump's aggressive trade strategy or grant the White House broad authority to use tariffs as a political tool.
• For India, the ruling is crucial as it affects existing steep duties on Indian goods, pressure over Russian oil, and the stalled India-US trade deal.
• Lower courts have already ruled against Trump, stating the IEEPA does not grant 'unbounded tariff authority' to the President.
• A ruling against Trump could lead to refunds of nearly $150 billion in collected tariffs and weaken the credibility of the tariff regime.

Why It Matters: Supreme Court's tariff ruling will define presidential power, impacting India's trade, oil imports, and US deal.