‘Oppose any agreement of dangers size …’: After the US court dropping down Donald Trump’s tariff, GTRI says that India should be careful on the trade deal
The Global Business Research Initiative (GTRI) says that US President Donald Trump’s tariff should be careful on a possible trade deal by the US trade court. GTRI has advised India to use discretion in its current Free Trade Agreement (FTA) discussion with the United States.On May 28, a federal court in Manhattan considered the invalid Trump’s initiative to levy a mutual tariff on the US trading partners, establishing that such tariffs require Congress’s approval rather than the President’s emergency powers.The court’s verdict clearly stated that the tariffs enacted under the Emergency Economic Authority were not legally valid.According to an ANI report, GTRI founder Ajay Srivastava, while evaluating the implications of the ruling on business discussions, has emphasized that India should not accept any arrangements affected by the dangers or have been established on illegal measures.Also read ‘Got ahead of his right …’: What are the scary observation made by the US Trade Court in Donald Trump’s decision against Trip?Srivastava mentioned that Tariffs from Trump’s administration violate both the rules of the World Trade Organization (WTO) and American domestic law, as confirmed by the decision of the federal court.Srivastava said in a statement, “Trump tariffs should stand on unstable legal basis, India should stop and convince the strategy of their conversation before committing to an FTA.”India and the United States are set to finalize the initial stage of the anticipated bilateral trade agreement (BTA) before July.The trade agreement between India and the United States will represent a significant development in economic partnership between these major economies, which will create possible opportunities for trade and investment cooperation.The United States retained its place as India’s primary trading partner for the fourth serial year in 2024–25, with trade between nations to USD 131.84 billion. During this period, India recorded a goods trade surplus of USD 41.18 billion with the US.Following the important decision of the US federal court, the global stock markets responded favorably, especially in the major Asian markets. The Kopy indices of Nikkei and Korea in Japan recorded an increase in posts after two percent.Also read ‘It can be either big or beautiful, not both …’: Elon Musk disappointed with Donald Trump’s ‘Big Beautiful Bill’; Indication of fracture in major relations?
