
In a major development for global trade, the United States is set to halt the collection of certain tariffs imposed during Donald Trump’s presidency after they were deemed illegal by the Supreme Court. The decision will come into effect from February 24, marking a significant shift in US trade policy.
The tariffs were originally introduced under emergency powers, targeting imports from multiple countries as part of a broader effort to address trade imbalances and protect domestic industries. However, the move faced strong legal challenges, with critics arguing that the administration had overstepped its authority by invoking emergency provisions without sufficient justification.
After a prolonged legal battle, US courts ruled against the tariffs, concluding that their implementation did not meet the legal threshold required under emergency powers. The Supreme Court upheld these findings, effectively paving the way for the suspension of tariff collections.
Following the ruling, US authorities have announced that collection of these duties will be stopped starting February 24, offering relief to businesses that have been impacted by higher import costs. Companies across sectors had raised concerns that the tariffs disrupted supply chains, increased operational expenses, and contributed to pricing pressures.
The decision is expected to have wider global implications. Exporters from countries affected by the tariffs could benefit from improved access to the US market, while global trade flows may stabilise as one layer of trade barriers is removed. Analysts suggest that the move could ease tensions between the US and its trading partners, potentially creating room for more balanced trade negotiations.
For businesses, the upcoming halt provides an opportunity to reassess sourcing strategies and cost structures. Industries reliant on imported goods, in particular, may experience reduced input costs once the tariffs are lifted. However, uncertainty remains over whether importers will receive refunds for duties already paid and how the US government might replace these measures with alternative trade policies.
Politically, the development represents a setback for Trump-era protectionist policies, which relied heavily on tariffs as a tool for economic leverage. It also reinforces the role of the judiciary in limiting executive powers in trade-related decisions.
While the halt has not yet taken effect, its anticipated implementation signals a turning point in US trade policy. As February 24 approaches, businesses, governments, and global markets will be closely watching how this decision reshapes international trade dynamics and economic relations.
Check the Breaking News Today and Latest News from across India and around the world. Stay updated with the latest World News and global developments from politics to economy and current affairs. Get in-depth coverage of China News, Europe News, Pakistan News, and South Asia News, along with top headlines from the UK and US. Follow expert analysis, international trends, and breaking updates from around the globe. Download the Asianet News Official App from the Android Play Store and iPhone App Store for accurate and timely news updates anytime, anywhere.