A major ruling by the Supreme Court of the United States has reshaped the legal foundation of American trade policy, triggering ripple effects across global markets. In a narrow decision, the court ruled that a president cannot unilaterally impose or modify tariffs — reinforcing that taxation authority rests with Congress. Following the verdict, Reuters reported that India has deferred a planned visit to Washington aimed at finalising an interim trade agreement. The pause comes amid lingering tariff tensions that escalated under President Donald Trump. With the proposed framework originally expected to take effect in April, uncertainty now clouds the path forward. Watch