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February 21, 2026
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Presidential tariff authority to impose global import taxes expanded via executive order, with temporary duration and statutory investigations.
The President announced an increase in a global import tariff implemented by an executive order designed to bypass ordinary congressional action and operate for a limited temporary period unless extended by legislation; concurrently, the administration is pursuing additional tariff measures under federal statutes that require Commerce Department investigations and administrative determinations.
February 21, 2026
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Presidential tariff authority contested; executive order raises global import tariff after review of recent legal limitation.
After a judicial ruling that his emergency powers did not authorize sweeping tariffs, the President signed an executive order bypassing Congress to impose a temporary global import tax limited to 150 days unless extended by legislation; following review of the court decision he announced an upward adjustment to the proposed global tariff rate.
February 21, 2026
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Reciprocal tariffs: leaders agree to study implications and adopt a wait-and-watch approach while boosting strategic trade ties.
Discussion focused on the trade-policy implications of a major US decision affecting reciprocal tariffs, with both leaders adopting a "wait-and-watch" posture to study potential US administrative responses. Parallel measures included a pact on critical minerals to build resilient supply chains, a joint digital partnership declaration, and multiple MoUs covering mining, MSMEs, healthcare, defence maintenance cooperation, and technology and energy collaboration.
February 21, 2026
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Tariff invalidation prompts review of affected duties, potential refund claims, and continued uncertainty from proposed new tariff measures.
Invalidation of certain executive-era import duties removes the legal basis for specified tariff measures and creates potential refund claims by importers and foreign suppliers, while other tariffs tied to distinct statutory or product-specific authorities remain in force. Governments and businesses must distinguish between invalidated and continuing duties when reviewing compliance, pursuing restitution, and adapting contractual and supply chain plans amid the added uncertainty of proposed new tariff measures under alternative rules.
February 21, 2026
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Trade agreement criticised as threatening farmers' livelihoods and spurring nationwide farmer protests and political agitation.
The state Congress contends the interim Indo US trade agreement will expose Indian farmers to damaging import competition-particularly in soybean and cotton-depress domestic prices, threaten small traders and related industries, and amount to a surrender of national agricultural interests. It has announced coordinated protests and gatherings (Kisan Sammelans, chaupals, marches) in Bhopal, Budhni and Vidisha, blaming the Union Agriculture Minister for failing to defend farmers and urging mobilisation to protect rural livelihoods.
February 21, 2026
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Temporary import surcharge alters global trade rules, reshaping US-India tariff calculus and prompting reassessment of bilateral negotiations.
A temporary import surcharge has been proclaimed under Section 122 of the Trade Act of 1974 as a time limited global ad valorem levy effective February 24, operating in addition to existing MFN and import duties and excluding specified products. The measure alters the tariff calculus for India by reducing the immediate reciprocal tariff burden relative to prior higher levies while creating uncertainty about post period tariffs; the Indian government is studying implications as bilateral trade talks continue and stakeholders call for renegotiation and sectoral protections.
February 21, 2026
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Preferential trade agreement expansion aims to broaden tariff coverage and deepen investment, technology and critical minerals cooperation India Mercosur
Expansion of the India Mercosur preferential trade agreement aims to convert a limited pact covering 450 tariff lines into a full agreement to improve market access, grow bilateral investment and foster technology partnerships. The parties set an enhanced annual trade target and signed a cooperation pact on critical minerals to support downstream processing and collaboration. Priority sectors include defense, energy and renewables, agri and agrochemicals, health and pharma, aerospace, automotive, semiconductors and digital technology, alongside measures to attract investment and ease business through visa facilitation and domestic reforms.
February 21, 2026
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Trade Agreement Suspension: call to halt and renegotiate interim India-US deal to protect farmers after US tariff invalidation.
The article demands suspension and renegotiation of the interim India-US trade framework to protect farmers, asserting the Framework cannot be implemented following judicial invalidation of presidential tariff powers and the administration's subsequent reliance on alternative tariff measures; it requires the government to commit to no import liberalisation on agricultural products, to review the agreement's haste and sustainability, and to safeguard non tariff protections and domestic livelihoods pending clarifications.
February 21, 2026
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Trade tariff changes threaten agricultural export competitiveness and expose domestic farmers to cheaper foreign imports.
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February 21, 2026
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Pharma exports: government and industry focus on market access and trade engagement to boost competitiveness and growth.
The commerce ministry and industry discussed measures to sustain and accelerate pharmaceutical exports, focusing on enabling conditions, resolving trade bottlenecks, and coordinated engagement with exporters, regulators, and Indian Missions. Strategic trade engagements with major partners were identified to improve market access, competitiveness, and regulatory compliance, supporting industry aims for double-digit expansion.
February 21, 2026
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February 21, 2026
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Presidential tariff authority curtailed; temporary import surcharge imposed alters bilateral tariff treatment and prompts trade talks.
Presidential tariff authority was found to have been exceeded when broad import levies were imposed; an executive proclamation subsequently announced a temporary import surcharge that modifies effective tariffs and operates in addition to existing MFN or import duties, prompting review of legal and commercial consequences and informing ongoing bilateral trade negotiations.
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February 21, 2026
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Trade tariffs: US issues new global import levy after court ruling, altering reciprocal duties and exporter compliance obligations.
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February 21, 2026
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Reciprocal tariffs transformed into temporary import surcharge, altering tariff exposure and prompting reassessment of bilateral trade concessions.
The US proclamation replaces varied reciprocal tariffs with a uniform temporary import surcharge of 10 per cent ad valorem applied in addition to MFN duties on goods previously covered under reciprocal tariffs. Indian exports will therefore bear MFN duties plus the temporary surcharge rather than the earlier country specific reciprocal or punitive levies; certain sectoral tariffs remain in force and specified categories of goods are exempted from the temporary surcharge. The change is contemporaneous with negotiations on an initial bilateral trade agreement, prompting a reevaluation of tariff concessions.
February 21, 2026
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Merchandise trade indices base year revision updates weights, classifications and methodology to reflect current trade structure and improve comparability.
DGCI&S has revised the merchandise trade indices to base FY 2022-23 to reflect current trade composition, updating commodity baskets and month-specific weights based on base-year trade values. The revised series incorporates monthly, quarterly and annual Export/Import Unit Value and Quantity Indices, Principal Commodity, SITC and BEC classifications, bilateral and region-wise indices for top partners, and Gross, Net and Income Terms of Trade. Methodological refinements cover common commodity-basket selection, imputation of missing unit values and Laspeyres-type weighted averaging; comparability is meaningful mainly for same-month comparisons across years. Detailed methods and data will be published by DGCI&S.
February 21, 2026
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Administrative data harmonization to inform a national agenda and prepare states for coordinated governance reforms.
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February 21, 2026
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Presidential tariff authority reversed, trade deal's tariff basis challenged; India-US agreement's viability questioned, prompting political backlash domestically.
Following a judicial curtailment of presidential power to impose global tariffs under emergency authority, the US administration invoked an alternative statute to impose a temporary import surcharge to preserve an existing India-US interim trade framework; this shift alters the tariff basis of the deal and raises questions about the surcharge's applicability to India and the deal's implications for market access, subsidy withdrawal, agricultural protections, energy security, and data safeguards.

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Handle differences from strategic, long term perspective, China on talks between Misri, Ma Zhaoxu

February 11, 2026

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Beijing, Feb 11 (PTI) India and China should handle their ties from a strategic and long-term perspective, properly managing differences and expanding cooperation, the Chinese Foreign Ministry has said on Tuesday’s strategic dialogue between the two countries held in New Delhi.

Foreign Secretary Vikram Misri and Chinese Executive Vice Minister of Foreign Affairs Ma Zhaoxu held the India-China Strategic Dialogue, during which they discussed the whole gamut of the bilateral ties.

Ma is in India to participate in the BRICS Sherpa meeting.

Both sides had friendly, candid and in-depth communication on the international and regional situation, respective internal and external policies, international and regional issues of shared interest, and China-India relations, a Chinese Foreign Ministry press release here last night said on Misri, Ma talks.

Both sides underlined that, given the complex and profound changes in the international situation, China and India should work together to earnestly implement the important common understandings reached between President Xi Jinping and Prime Minister Narendra Modi, view and handle China-India relations from a strategic and long-term perspective, it said.

As part of the common understanding between the two leaders, both countries should uphold the strategic perception that China and India are cooperative partners instead of rivals, and the two countries are each other's development opportunity instead of a threat, it said.

China and India should deepen mutual trust and expand cooperation, properly manage differences, and promote the development of the relations along a sound and steady track, it said.

Both sides agreed to support each other's work as the BRICS Chair for 2026 and 2027, it said.

Both sides agreed to support multilateralism and the central role of the United Nations, strengthen unity and cooperation among the Global South, safeguard international fairness and justice, work together for a multipolar world, and make contributions to peace and development in Asia and the world at large, it said.

The Ministry of External Affairs said in its press release that the two sides exchanged views on a wide gamut of issues covering bilateral, regional and international affairs.

In their talks, Misri and Ma primarily focused on steps taken by the two sides to stabilise and rebuild bilateral ties that had come under severe strain following the over four-year military standoff in eastern Ladakh.

In the meeting held under the framework of India-China Strategic Dialogue, both sides recognised the need for an early conclusion of an updated air services agreement.

External Affairs Ministry spokesperson Randhir Jaiswal said both sides reviewed the "positive momentum" in bilateral relations and discussed ways to further advance ties by enhancing people-to-people exchanges and "addressing concerns on sensitive issues".

Though Jaiswal did not elaborate on the "sensitive issues", it is understood that the Indian side has been concerned over China's export control measures relating to rare earth minerals.

An Indian readout of the Misri-Ma meeting said the discussions primarily "focused on the recent progress made in stabilising and rebuilding bilateral ties and ways to take bilateral engagement forward." "Both sides underscored the importance of peace and tranquillity in the border areas for overall progress in bilateral relations".

"They reiterated their commitment to implement the guidance provided by their leaders ,including on the need to proceed from a political and strategic direction to approach issues and concerns related to bilateral trade," it said.

The MEA said Misri noted the successful resumption of the Kailash Mansarovar Yatra and hoped for the continued expansion of the scale of the Yatra.

"Both sides recognised the need for an early conclusion of an updated air services agreement. The two sides agreed to continue to take practical steps for visa facilitation and promote people-to-people contacts," it said.

Misri and Ma also discussed various regional and international issues.

In the last few months, India and China have initiated a series of measures to normalise their relations after ending the military face-off along the Line of Actual Control (LAC) in October 2024. PTI KJV

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