Trump tariff decision likely today by US Supreme Court; here's when you can expect the verdict in India

Trump tariff decision likely today.

The US Supreme Court is likely to deliver its verdict on Wednesday in the case of trade tariffs imposed by the Donald Trump administration on key partners.

The court did not issue a ruling last Friday, January 9, on petitions questioning the legality of the president’s global tariff measures.

The verdict is expected around 8.30 pm Indian Standard Time on Wednesday.

On April 2 last year, Trump imposed tariffs ranging between 10-50 percent on most major economies. The move was challenged in court on the grounds that it exceeded presidential authority under existing US laws.

Market participants are watching the outcome closely for cues on global trade policy and its impact on capital flows.

According to Ravi Singh, Chief Research Officer at Master Capital Services Ltd, Indian equities could see a short-term relief rally if the court rules against the tariff measures.

"A ruling against the tariffs could reduce uncertainty around trade policy and improve global risk appetite. That may support foreign institutional investor inflows and lead to a relief rally in Indian equities," Singh said.

However, he added that any such move may not necessarily lead to a sustained rally.

"Markets will continue to track global factors such as US interest rate expectations, oil prices, geopolitical risks and domestic earnings," he said.

Trump on Monday also said any country “doing business” with Iran would face a 25 percent tariff on all trade with the United States.

"Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25 per cent on any and all business being done with the United States of America. This Order is final and conclusive," Trump said in a post on Truth Social.

Among Iran’s major trading partners are China, Turkey, India, the UAE, Pakistan and Armenia.

The announcement could impact India, which has been among Iran’s five largest trading partners in recent years.

The US has already imposed tariffs of up to 50 percent on India, among the highest globally, including a 25 percent levy linked to India’s purchases of Russian energy.

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