The United States and India have agreed to a long-anticipated trade deal aimed at easing bilateral tensions and lowering tariffs, with US President Donald Trump announcing a sharp reduction in reciprocal tariffs on Indian goods and a major purchasing commitment from New Delhi.
The US Supreme Court on Friday struck down President Donald Trump’s sweeping global tariffs, ruling that he violated federal law by unilaterally imposing import duties under emergency powers without explicit authorisation from Congress.
Imports worldwide worth $2,640 billion, or 11.1 per cent of total imports, were affected primarily by tariffs along with other trade measures introduced between mid-October 2024 and mid-October 2025 - more than four times the $611 billion coverage recorded in the preceding period, said a Word Trade Organization report.
The global economy is showing signs of a moderate slowdown after a first half of robust activity largely attributable to temporary factors — such as front-loading of trade and investment and inventory management strategies, says IMF's latest World Economic Outlook (WEO) report.
While global supply chain anxiety has eased slightly from record highs earlier this year, procurement leaders remain alert to mounting risks, including tariffs, geopolitical instability, and a sharp rise in cybersecurity threats, says the latest CIPS Pulse Survey.
