China, India Among Winners After US Court Blocked Trump Tariffs

In a swift reversal of fortunes, countries that had been hardest hit by US President Donald Trump’s tariffs have emerged as the biggest winners from the Supreme Court’s decision to strike down his emergency levies.

China, India and Brazil are among those now seeing lower tariff rates for shipments to the US after the court ruled on Friday that Trump’s use of the International Emergency Economic Powers Act to impose duties was illegal. While Trump subsequently announced plans for a 15% global rate, Bloomberg Economics calculated that would mean an average effective tariff rate of around 12% — the ...