The US Supreme Court ruled that Donald Trump's earlier tariffs went beyond presidential powers and struck them down. A temporary 10% ad valorem import duty was then imposed for 150 days from 24 February 2026 under Section 122 of the Trade Act of 1974, with critical minerals, energy products and pharmaceuticals exempted. Following this, the tariff applicable to India fell from 18% to 10% under the Interim Trade Agreement framework.