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    Murky outlook for businesses after tariff ruling prompts countermoves by Trump
    Indian-origin lawyer at centre of landmark Supreme Court verdict against Trump
    Supreme Court struck down Trump's tariffs. Now comes hard work of issuing refunds
    Perfios Launches 'KScan AI': Empowers BFSI with AI-powered Business Intelligence and Risk Assessment of 30 Million Indian MSMEs
    Indian goods face only 10 pc reciprocal levy in US after court ruling, new order: Exporters
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February 21, 2026
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Presidential tariff authority limited by court; administration seeks alternative statutory paths to maintain import duties, prolonging business uncertainty.
The Supreme Court ruled the president lacked authority under the emergency-powers framework to impose import tariffs, voiding tariffs imposed on that basis while leaving open the administration's use of other statutory authorities to impose duties; the decision narrows one executive route for tariffs but creates complex refund and recovery issues and leaves many existing tariffs under different authorities intact.
February 21, 2026
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Separation of powers affirmed: Presidential global tariffs invalidated, reaffirming that only Congress may impose taxes.
A Supreme Court decision concluded that broad presidential global tariffs exceeded executive authority by encroaching on Congress's exclusive power over taxation; counsel for small businesses argued the levies operated as taxes imposed without congressional authorization, framing the dispute as a structural separation of powers issue and reaffirming that only Congress can impose taxes.
February 21, 2026
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Invalidation of emergency tariff authority leaves collected import duties subject to refund and protracted litigation.
The Supreme Court held the International Emergency Economic Powers Act did not authorize presidential tariffs, leaving collected import duties unlawful but not prescribing a refund mechanism. Administration of refunds will likely involve the customs agency, specialised trade tribunals and lower courts, utilising or adapting existing duty correction procedures, and is expected to produce prolonged, multi jurisdictional litigation as importers seek recovery while consumers face evidentiary obstacles to claiming pass through losses.
February 21, 2026
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KYC/KYB compliance automation expands: AI platform streamlines MSME due diligence, risk screening and faster onboarding for lenders.
An AI-powered KYC/KYB platform automates entity and individual due diligence and compliance for the BFSI sector, centralising MSME discovery and risk evaluation via a large multi-source data lake. It supports onboarding, underwriting, GTM optimisation and credit decisioning by converting fragmented business information into actionable intelligence. The system enables scaled lead generation, automated due diligence, and extensive sanction and litigation screening to bolster anti-money laundering controls, and provides a Model Context Protocol allowing configurable AI agents and custom model integration to align with institutional policies.
February 21, 2026
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Temporary import surcharge lowers reciprocal US tariff on Indian goods following legal limitation on presidential tariff powers
A presidential proclamation imposes a temporary import surcharge of ten per cent ad valorem, effective February 24, 2026, applied in addition to existing Most Favoured Nation duties; this replaces prior broader reciprocal levies on Indian goods, while higher sectoral tariffs for specified products remain and the surcharge applies only to a portion of exports due to coverage exemptions.
February 21, 2026
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Policy repo rate unchanged; MPC retains neutral stance as inflation stays benign while growth outlook strengthens.
Under Section 45ZL the MPC's minutes record a unanimous decision to keep the policy repo rate unchanged and to retain the neutral stance after reviewing staff projections, surveys and alternative risk scenarios. The committee judged growth prospects to have strengthened while headline inflation remains benign though modestly revised upward for near quarters due mainly to precious metals; risks to the outlook are broadly balanced and policy will be guided by incoming data and the progress of transmission.
February 21, 2026
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Constitutional limits on presidential tariff power overturned global tariffs, reshaping the interim India-US trade deal consequences.
The US Supreme Court invalidated the President's global tariffs imposed under emergency powers, finding tariff authority lies with Congress; the decision undercuts executive unilateral tariff measures. The India-US interim agreement saw an Executive Order lifting prior punitive tariffs in return for India's energy purchasing commitments, and a reduced reciprocal tariff rate was agreed. Indian political opposition alleges the deal's timing reflected executive haste that risked sovereign bargaining leverage and domestic agricultural interests.
February 21, 2026
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Presidential tariff authority curtailed; temporary global import duty imposed to rebalance trade while India trade framework remains intact.
The Supreme Court held that the President exceeded authority in imposing sweeping tariffs; in response the President signed a Proclamation imposing a temporary import duty to address international payments problems and rebalance trade relationships, effective on a specified date for a limited period. The President stated that an interim trade framework with India remains in place, removing certain punitive tariffs on India under an Executive Order while asserting India will assume tariff obligations under the bilateral arrangement.
February 21, 2026
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Emergency powers tariffs invalidation prompts presidential denunciation of justices and raises separation of powers and institutional independence debate.
Six justices invalidated presidential global tariffs imposed under an asserted emergency powers statute, framing the central legal question as the permissible scope of executive authority to impose trade restrictions without clear congressional authorization, and the litigation tested statutory delegation, administrative action in the trade context, and judicial review of national-security framed economic measures.
February 21, 2026
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Emergency power limits prompt alternative executive tariff action, raising concerns about agriculture costs and trade uncertainty.
The Supreme Court invalidated a presidential tariff framework as an unlawful exercise of emergency power, leading the president to announce use of alternative executive authority to impose a temporary global tariff. Stakeholders warned that further tariff actions or use of other authorities would increase agricultural input costs and create trade uncertainty, while business groups said ties with trade partners remain intact despite the disruption.
February 21, 2026
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Presidential emergency powers curtailed as court invalidates broad tariffs imposed under IEEPA, overturning central global levies.
The Supreme Court found the President exceeded authority under the International Emergency Economic Powers Act by using IEEPA to impose broad tariffs, invalidating core IEEPA-based measures including the Liberation Day global tariff framework and subsequent trafficking and country-specific levies on Canada, Mexico, China, Brazil and India; sectoral and non-IEEPA tariffs remain in place while the executive considers alternative measures.
February 21, 2026
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Executive emergency tariff authority limited, prompting administration to pursue alternative statutory bases for imposing tariffs.
The Supreme Court concluded that the Constitution vests the taxing power in Congress and that the emergency statute invoked by the Executive does not authorize imposition of tariffs as revenue measures, constraining executive emergency tariff authority; the administration plans to rely on alternative statutory bases to replace the invalidated tariffs.
February 21, 2026
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Tariff policy remains central as the India trade arrangement continues despite judicial limits on tariff authority.
President Trump stated the bilateral trade arrangement with India remains in effect after the Supreme Court invalidated his broad tariffs, noting an Executive Order rescinded punitive tariffs on Indian oil imports from Russia and an Interim Agreement framework reduces reciprocal U.S. tariff treatment toward India while maintaining tariffs on Indian imports under the new terms; he framed tariffs as leverage for energy-sourcing commitments and de-escalation between India and Pakistan.
February 21, 2026
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IEEPA authority rejected, limiting tariff powers while administration decries the decision and cites geopolitical effects.
The Supreme Court held that the International Emergency Economic Powers Act does not authorize imposition of duties, constraining executive authority to impose tariffs under national emergencies; the President criticized the ruling and reiterated that tariffs were used as a foreign policy tool to end hostilities between India and Pakistan, a claim denied by India which attributes cessation to direct military talks.
February 21, 2026
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Global tariff authority challenged after court invalidated emergency-use tariffs; president plans executive-order, time-limited alternative.
A judicial body invalidated a broad presidential program of global tariffs as an unlawful exercise of emergency power, eliminating the administration's primary emergency-based mechanism for imposing unilateral worldwide duties. The president announced intent to use an alternative statutory authority via executive order that would impose time-limited tariffs restricted to 150 days, signaling a shift to a different administrative vehicle for trade measures.
February 21, 2026
Show AI Summary
Emergency powers invalidation limits executive authority to impose unilateral tariffs, nullifying sweeping reciprocal import duties.
The executive's imposition of sweeping "reciprocal" import duties under a claimed emergency powers statute was found unlawful; the tariffs were invalidated because setting import duties required clear congressional authorization rather than unilateral emergency proclamations, signaling a legal limit on executive authority to alter statutory tariff schemes by emergency declaration.
February 21, 2026
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Judicial review of emergency tariff powers restores congressional tariff authority, affecting recently announced India-US trade concessions.
The US Supreme Court struck down President Trump's global tariffs imposed under emergency powers, finding tariff authority lies with Congress, thereby removing the legal basis for those sweeping reciprocal tariffs. Indian opposition leaders contend that a recently announced India-US trade framework contained concessions extracted while the tariffs were assumed valid, and they seek clarity on whether those commitments-covering tariff eliminations, import targets, energy sourcing, and non tariff barrier commitments-will persist or be revisited following the judgment.
February 20, 2026
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IEEPA authority invalidated - certain IEEPA based tariffs now refundable to importers who directly paid them.
IEEPA based tariffs were deemed impermissible, allowing refunds only to US importers of record or consignees who directly paid tariffs. Eligible tariffs include IEEPA imposed levies commonly termed fentanyl, trafficking, reciprocal or baseline tariffs, including certain tariffs on goods from Brazil and India. Refunds exclude duties imposed under other statutory authorities such as anti dumping, countervailing, trade remedy or national security provisions. The administrative procedure and timing for claims remain uncertain pending further court and executive guidance.
February 20, 2026
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Presidential emergency powers limited: IEEPA cannot be used to impose broad import tariffs, leaving refund questions open.
The Supreme Court concluded that the International Emergency Economic Powers Act does not authorize the president to impose broad import tariffs, stressing that authority to levy taxes and tariffs rests with Congress and that longstanding practice shows such power has not been exercised under IEEPA. The opinion invalidates tariffs enacted under emergency proclamations while leaving untouched tariffs based on other statutory grounds, and it leaves unresolved whether and how refunds should be returned to importers who paid the challenged levies.
February 20, 2026
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Presidential emergency tariff power invalidated, forcing alternative legal routes and prolonging trade and political uncertainty.
The Court held the president lacked authority to declare an economic emergency and impose sweeping import tariffs, removing an executive legal basis for those tariffs and forcing the administration to pursue alternative statutory mechanisms, which will prolong legal and political debate over trade policy.

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When Fashion Becomes a Force for Health: Suta Joins Sanjeevani's Pink Tag Project for Breast Cancer Awareness

February 10, 2026

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The homegrown D2C brand carries a behavioral health intervention from grassroots communities into millions of wardrobes Mumbai, Maharashtra, India – Business Wire India In a village outside Delhi, a woman notices a Pink Tag stitched inside her blouse- next to the wash-care label. It gently reminds her how to check herself with simple visuals, no alarms, no fear, just awareness. This is how the Federal Bank Hormis Memorial Foundation | Network 18 Sanjeevani - Pink Tag Project was born from rural India, is being amplified by local tailors and community trust. The ambitious initiative is now entering the fashion mainstream through Suta- the homegrown D2C brand that’s been redefining what the saree means to the modern Indian woman. In this moment, tradition meets contemporary purpose. A garment becomes a carrier of care, and the fashion industry takes a step into nation-building. Watch the film here: https://www.youtube.com/watch?v=dRG0__kCzjI In India, every four minutes a woman is diagnosed with breast cancer. Over 70% are detected late. Women don't screen because they have no time- no time for themselves. Between household work, earning livelihoods, and caring for families, self-care is a luxury they cannot afford. The Pink Tag Project began with a simple observation: women have one moment alone each day. When they get dressed. Stitched into clothing, the Pink Tag carries self-examination steps. A behavioral nudge embedded in a moment that already belongs to her. Rural tailors, volunteers, trusted voices, made it real. Tradition Meets Contemporary Purpose Suta entered Indian fashion with a mission: to reclaim the saree for the modern woman. In a market where tradition felt frozen in nostalgia, Suta brought fresh energy, cultural confidence, and design innovation. Now, Suta integrates the Pink Tag into its blouses that are no longer just identity, they become a carrier of care. A reminder that a woman's health matters as much as her responsibilities to others. From Grassroots to Industry Blueprint By stitching the Pink Tag into Suta blouses, right next to the wash-care label, the brand demonstrates a blueprint for how fashion companies can embed social purpose into product design and corporate philosophy. This tangible integration creates a replicable model for the broader apparel industry to adopt. The intervention scales from rural communities to mainstream fashion. A behavioural change nudge, once tested by local tailors, is now manufactured at scale by Suta. This convergence of community insight, industry participation, and market innovation creates the conditions for systemic health behaviour change. Sujata Biswas, Co-founder, Suta, said, "At Suta, we understand that the garments women wear carry meaning beyond purchase. They carry identity, confidence, and now- care. When we learned about the Pink Tag, we saw something we couldn't ignore: an opportunity to use the trust women place in us for something that matters more. If a blouse can remind a woman that her health deserves attention, then fashion becomes a force for nation-building." Taniya Biswas, Co-founder, Suta, added, "The dressing moment is sacred- it's when a woman is truly alone with herself. Placing the Pink Tag there felt inevitable. We're not instructing. We're simply being present in a moment that already belongs to her, reminding her that she matters." Siddharth Saini, COO, News18 Studios, added, " Sanjeevani’s scale across News18’s broadcast network and digital platforms has ensured that vital health information reaches every segment of Indian society—from the nation’s most influential audiences to underserved regions where lack of awareness still hinders early action and healthier outcomes. The Pink Tag shows how media can move beyond communication to drive measurable behavioural change. Designed as a simple, repeatable nudge, it reaches women at moments where traditional media influence ends, embedding awareness into the rhythms of daily life. Our partnership with Suta strengthens this impact by extending the intervention to retail touchpoints and social engagement. Today, the initiative operates at true scale, combining national reach with sustained, personal reinforcement and this is how we believe insight-led innovation delivers real-world results and builds systemic, long-term change.” Speaking about Suta coming on board, MVS Murthy, Chief Marketing Officer, Federal Bank, "The Pink Tag was always designed to scale beyond any single campaign. Suta's partnership proves that the real barrier to widespread adoption isn't innovation or resources- it is belief. It's the willingness of brands to align commercial success with social purpose. With Suta, we're not just launching a collaboration. We're building a blueprint for how India's fashion industry can become a partner in public health. This is nation-building through business." What Happens Next The Pink Tag is now stitched into Suta garments. This partnership extends an invitation to the apparel industry to adopt similar models. The D2C ecosystem, manufacturers, and policy circles are observing how scale and impact intersect. A tag becomes a daily reminder. That reminder, repeated across millions of wardrobes, creates sustained behavior change. Suta has established a precedent for how brands can drive social impact at scale. About Federal Bank Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of around 1591 banking outlets and 2093 ATMs/Recyclers spread across the country, and the Bank’s total business mix (deposits + advances) stood at Rs 5.29 Lakh Crore as on 30th June 2025. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 16.03 % as on 30th June 2025. Federal Bank has Representative Offices in Dubai and Abu Dhabi that serve as a nerve centre for Non-Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance TecCity (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organisation that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress. About Tata Trusts Since its inception in 1892, Tata Trusts, India's oldest philanthropic organisation, has played a pioneering role in bringing about an enduring difference in the lives of the communities it serves. Guided by the principles and the vision of proactive philanthropy of the Founder, Jamsetji Tata, the Trusts' purpose is to catalyse development in the areas of health, education, nutrition, water, sanitation, hygiene, and livelihoods among others. The Trusts have pioneered efforts in the field of cancer care since the inception of the Tata Memorial Hospital in 1941. In 2017, Tata Trusts established a Tata Cancer Care Foundation (formerly known as Alamelu Charitable Foundation) to implement its comprehensive Cancer Care Programme, based on the four pillars of access, affordability, quality, and awareness. Through its efforts, over 20 facilities across six states- Andhra Pradesh, Assam, Jharkhand, Maharashtra, Uttar Pradesh, and Karnataka - have been developed and augmented through collaborations with state governments and like- minded organisations. The Trusts are committed to downstaging the impact of cancer by flipping the ratio of early to late detection through increased awareness and screening while improving the quality of life of patients and their families. To View the Video, Click on the Link Below: Sanjeevani x Suta | Pink Tag Project (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI

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