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US Supreme Court struck down Donald Trump’s broad tariffs, but Trump imposed a new 15 percent global tariff, impacting Indian exporters and stock market sentiment.
Trump’s 15% Global Tariff Order May Weigh on Indian Export Stocks
Stock Market Today: The Indian stock market may see some action on Monday, February 23, following the upheaval in the Trump administration’s tariffs, which would have a direct impact on Indian exporters and certain industries.
GIFT Nifty was trading 172 points or half a percent higher to 25,738 as on Monday, 23 Feb 2026 07:23 AM. The index derivative derived from Nifty 50 shows the potential mood of the market, suggesting a strong opening for the benchmark indices – Sensex 30 and Nifty 50.
US Court Strikes Down Trump Tariffs
The US Supreme Court dealt a major setback to Donald Trump’s tariff push, ruling by a 6-3 majority that his administration lacked the legal authority to impose sweeping global duties.
The court held that the International Emergency Economic Powers Act (IEEPA) does not authorise the president to unilaterally levy broad, economy-wide tariffs.
While the 1977 statute permits the executive branch to regulate specific international financial transactions during a declared national emergency, it does not extend to the imposition of blanket trade tariffs, the judges said.
Trump’s Fresh Tariffs
Following the SC ruling that struck down broad “reciprocal” tariffs under IEEPA, Trump signed an executive order imposing a fresh 15% (earlier 10%) global tariff on imports from all countries, effective February 24, 2026, under Section 122 of the Trade Act of 1974.
Analysts say this 15% tariff is less severe than previously proposed actions and leaves scope for continued negotiations.
“For India, this effectively resets the interim US-India trade arrangement, limiting tariff exposure to 10% for now. While this introduces short-term uncertainty for Indian exporters in sectors such as textiles, pharmaceuticals, gems, and machinery, the measure is considered less severe than previously proposed actions and leaves scope for continued negotiations,” Ponmudi R, chief executive officer of Enrich Money, a Sebi-registered online trading and wealth tech firm.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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