Soon after the US Supreme Court struck down tariffs imposed by the Donald Trump administration, the US President said he would impose a 10% levy on all goods coming into America, using another legal provision. Hours later, he jacked this up to 15%.
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The 15% tariffs announced Saturday (February 21) are the maximum allowed under this never-used trade law (under Section 122 of the 1974 Trade Act). Secondly, this is temporary, given that the provision only allows the new tariffs to stay in place for around five months. After that, the American government must seek US Congressional approval.
What this means for different countries
At least for now, with this flat rate of 15%, most major countries are in a better situation than before Friday’s court ruling. India, China, South Korea, Japan, almost all of ASEAN, Kazakhstan, Turkey, South Africa, Libya, Brazil, Mexico and Canada are now at a lower rate, to be implemented from February 24.
Anil Sasi is the National Business Editor at The Indian Express, where he steers the newspaper’s coverage of the Indian economy, corporate affairs, and financial policy. As a senior editor, he plays a pivotal role in shaping the narrative around India's business landscape. Professional Experience Sasi brings extensive experience from some of India’s most respected financial dailies. Prior to his leadership role at The Indian Express, he worked with: The Hindu Business Line Business Standard His career trajectory across these premier publications demonstrates a consistent track record of rigorous financial reporting and editorial oversight. Expertise & Focus With a deep understanding of market dynamics and policy interventions, Sasi writes authoritatively on: Macroeconomics: Analysis of fiscal policy, budgets, and economic trends. Corporate Affairs: In-depth coverage of India's major industries and corporate governance. Business Policy: The intersection of government regulation and private enterprise. Education Anil Sasi is an alumnus of the prestigious Delhi University, providing a strong academic foundation to his journalistic work.
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