New Delhi: The U.S. Supreme Court has dealt a major legal blow to former President Donald Trump’s tariff policy, declaring it unlawful and raising significant questions about the future of U.S. trade strategy. Trump described the ruling as “insulting” and indicated that his administration is already working on a backup plan. Key Highlights of the Ruling The Supreme Court, in a 6-3 decision authored by Chief Justice John Roberts, ruled that the use of emergency powers under the International Emergency Economic Powers Act (IEEPA) of 1977 to impose broad tariffs is illegal. The verdict clarified that the President does not have unilateral authority to levy tariffs; such measures require explicit approval from Congress. The ruling has wide-reaching implications for global trade, i...

New Delhi: Gold prices witnessed a sharp rise on Friday, with the precious metal gaining ₹850 in the national capital’s Sarafa market. Gold closed at ₹1,59,500 per 10 grams, while silver remained unchanged at ₹2,64,000 per kilogram, maintaining its previous levels despite recent volatility. Domestic Market Movement According to market sources, 99.9% pure gold was priced at ₹1,58,650 per 10 grams (all-inclusive) on Thursday. On Friday, it jumped ₹850 to close at ₹1,59,500 per 10 grams. In contrast, silver remained steady at ₹2,64,000 per kilogram, showing no change. International Trends Global markets also saw an uptick in precious metals. Spot gold rose 0.62% to $5,027.13 per ounce, while silver gained 2.55% to trade at $80.50 per ounce. Kainaat Chenwala, Assistant Vice Pres...

New Delhi: The U.S. Supreme Court has delivered a major blow to former President Donald Trump’s tariff regime, declaring it illegal and sharply limiting presidential authority to impose unilateral trade tariffs. In a 6-3 ruling, the Court clarified that the International Emergency Economic Powers Act (IEEPA) of 1977 does not grant the President the power to levy tariffs. The law only allows regulation or restriction of certain international transactions during a national emergency. The verdict strikes at the heart of Trump’s aggressive trade strategy, which affected countries including India, China, Canada, Mexico, Brazil, and several others, subjecting them to high reciprocal tariffs. Why This Ruling is a Major Setback The Trump administration argued that IEEPA’s provisions allow...

New Delhi: India and the United States are deepening their economic and strategic relationship, reshaping key geopolitical dynamics. Following the announcement of a bilateral trade deal, India has joined the U.S.-led strategic alliance Pax Silica, signaling closer cooperation in critical minerals and supply chains. This growing India-U.S. partnership is likely to be viewed differently by Russia and China. Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the U.S. is expected to be signed in March and implemented by April. Earlier this month, both countries released a framework for the first phase of the bilateral trade deal, and final negotiations will be held in Washington from February 23 for three days. The accelerated pace of ...