Business
Retail industry says Trump tariff reversal is a win, even as uncertainty remains
The retail industry on Friday said the Supreme Court’s ruling that struck down some of President Donald Trump’s global tariffs would usher in more predictability and free up businesses from the burden of higher import costs.
“The Supreme Court’s announcement today regarding tariffs provides much-needed certainty for U.S. businesses and manufacturers, enabling global supply chains to operate without ambiguity,” the National Retail Federation said in a statement following the ruling. “Clear and consistent trade policy is essential for economic growth, creating jobs and opportunities for American families.”
The nation’s highest court determined that Trump’s broad tariff rates on U.S. trade partners enacted under the International Emergency Economic Powers Act, or IEEPA, overstepped the president’s authority. The Supreme Court is sending the case back to the lower court for dismissal.
Yet the reversal has raised fresh questions about whether retailers and U.S. consumers will meaningfully feel a financial impact and if the decision means more uncertainty or less.
Just hours after the ruling was handed down, Trump condemned the ruling and said his administration has “alternatives,” referencing sector-specific tariffs and announcing a new, global tariff rate of 10%.
It’s also unclear if, when and how the government may refund tariffs that have already been paid and were deemed unconstitutional.
“We urge the lower court to ensure a seamless process to refund the tariffs to U.S. importers,” the NRF said in its statement. “The refunds will serve as an economic boost and allow companies to reinvest in their operations, their employees and their customers.”
The NRF represents a number of U.S. retailers, from big-box retailers such as Walmart to smaller brands and manufacturers.
In an interview with CNBC on Friday afternoon, David French, executive vice president of government relations for NRF, acknowledged that retailers continue to face other tariffs and may face new ones, based on Trump’s remarks.
“The president has lots of other tariff tools in the toolbox ,and we certainly expect he will use these tools to advance his tariff agenda and maintain leverage in negotiations with other countries,” he said. “The good thing about the ruling today is it takes one of the tools away from him and will build a little bit more of certainty into the tariff process.”
Compared with Trump’s broad use of IEEPA, alternative tariffs that the president imposed on Friday “have inherit limitations,” French said. Some of those tariffs would come with time limits or require the administration to clear additional hurdles.
And, he said, if companies get a refund of tariffs they paid, they could put it toward investing in their businesses, hiring more workers or lowering prices.
He said the trade group is “hopeful the president comes to the conclusion that getting the refunds out as quickly and as simply as possible would be in everybody’s best interest” — noting it could also help Trump ahead of the midterm elections.
In December, warehouse club Costco sued the Trump administration to get a full refund of the tariffs it had paid and to block import duties from continuing.
In the lawsuit, filed in the U.S. Court of International Trade, Costco said it risked losing money it has already paid even if the Supreme Court ruled against the tariffs.
Costco did not respond to a request for comment about the Supreme Court decision and what it means for the retailer’s lawsuit.
While Friday’s ruling is largely positive for the retail industry, the idea that it brings more predictability and lower costs is likely “a pipe dream,” said Steven Shemesh, a retail analyst for RBC Capital Markets.
“This administration is pretty adamant about tariffs and trade balance, and if it doesn’t come this way, I’m pretty certain it will come in another way,” he said prior to Trump’s announcement of new tariffs. “It may have another look, shape, size, smell, but I think it will end up looking similar.”
Apparel and footwear
Clothing, footwear and discretionary items were among the imports most vulnerable to Trump’s tariffs, which imposed steep rates on countries such as China and Vietnam, where the retail industry maintains large portions of its supply chain.
Footwear has been one of the most heavily affected industries, since nearly 100% of all footwear sold in the U.S. is imported, according to Footwear Distributors and Retailers of America, the industry’s trade group.
Even before Trump’s first term, footwear manufacturers were moving some sourcing out of China as its labor force shrank, said Matt Priest, CEO of the FDRA. Yet it would be unrealistic to return production to the U.S., he said, and moving it to another part of Asia can be difficult.
In an interview with CNBC on Friday, Priest said the decision is a step toward more predictability for the footwear industry because it limits tariffs that Trump can use to ones that “are not as sweeping” and may require Congress’ input.
“Even if it’s still uncertain to some degree, we are not on that playing field where we have those exorbitant tariffs,” he said.
The trade group, which includes well-known footwear companies and brands such as Nike, Crocs and Puma, held an emergency videoconference with 325 companies Friday afternoon. Priest said trade group members were upbeat but also had a lot of questions. Among them, members asked about when or if they would get refunds and when the IEEPA tariffs would officially be stopped, specifically whether they would still hit shipments that arrive in the coming days.
Priest said he doesn’t anticipate that refunds will come quickly and that the trade group has coached members against banking on them. He said the group’s work continues, as it tries to work with the Trump administration and Congress to nudge them toward “a more surgical, thoughtful approach” to tariffs.
On the call with trade group members, Priest said, “There was optimism that this part of this journey was at least somewhat being redirected,” and he described the ruling as “a win” for the industry.
But, he added, without the refund and other details spelled out yet, “it’s a long way to go.”
Business
‘Studying all developments’: India reacts after US Supreme Court strikes down Trump’s tariffs – The Times of India
NEW DELHI: The government on Saturday said that India is closely “studying all developments and implications” of the US Supreme Court’s ruling striking down President Donald Trump’s sweeping tariffs across the world.In its first statement, the ministry of commerce & industry said, “We have noted the US Supreme Court judgement on tariffs yesterday. President Trump has also addressed a press conference in that regard. Some steps have been announced by the US administration.”“We are studying all these developments for their implications,” it added.The remarks come a day after the Supreme Court of the United States, in a 6–3 verdict, ruled that Trump’s sweeping global tariffs violated federal law. Chief Justice John Roberts, writing for the majority, held that the tariffs exceeded the scope of the law.Following the setback, Trump termed the ruling a “terrible decision” and announced a new 10% global tariff “effective immediately.”Invoking Section 122 of the Trade Act of 1974, Trump said he would sign an executive order imposing the additional levy.This provision allows the US president to impose a temporary import surcharge of up to 15% for 150 days to address balance-of-payments deficits.“Effective immediately, all the national security tariffs under Section 232 and existing Section 301 tariffs remain in place… Today, I will sign an order to impose a 10% global tariff under Section 122 over and above our normal tariffs already being charged,” Trump said.Trump also asserted that the India-US trade deal would remain unaffected.“Nothing changes, they’ll be paying tariffs, and we will not be paying tariffs. So, the deal with India is they pay tariffs. This is a reversal for what it used to be,” said Trump.“I think Prime Minister Modi is a great gentleman, a great man, actually, but he was much smarter than the people that he was against in terms of the United States. He was ripping us off, India. So we made a deal with India, it’s a fair deal now, and we are not paying tariffs to them and they are paying tariffs. We did a little flip,” he added.However, when further asked whether India will have to pay a 10% tariff and whether it would replace previous tariffs imposed under the International Emergency Economic Powers Act (IEEPA), a White House official said, “Yes, 10% until another authority is invoked.”
Business
Top 8 Sustainable Companies In India In 2026
The latest report by Perpetual Capital and Hurun India, Impact 50-2026, reveals that the country’s largest corporations have rethought the role of corporate social responsibility (CSR) this year. The report ranked 50 Indian companies based on their alignment with the United Nation’s 17 Sustainable Development Goals (SDGs).
Among 50 companies listed, 25 have established clear goals for gender equality, 30 are directing their research and development (R&D) efforts toward environmental, social, and governance (ESG) initiatives, and 39 are making significant capital investments to advance environmental and social objectives.

Hindustan Unilever ranks as the most sustainable Indian company with 53.9 points in 2026. (Image: X)

HCL Technologies ranks second with a score of 53.8, highlighting a strong commitment to reducing operational emissions and expanding energy-efficient digital solutions. (Image: X)

In the third position is Grasim Industries. It scored 52.6 points with focus on clean water and sanitation, affordable and clean energy, and responsible consumption. (Image: X)

Tata Motors followed closely behind in the fourth position scoring 51.8 points. The company focused on climate action, clean water and sanitation, affordable and clean energy. (Image: X)

Dabur India scored 50.3 points. The consumer goods industry focused on responsible consumption, climate action, clean water and sanitation. (Image: X)

Next is Lupin with 50.2 points. The company prioritised good health and well-being, climate action and gender equality. (Image: X)

Hindustan Zinc secured the seventh position scoring 47.9 points. It focused on climate action, clean water and sanitation, affordable and clean energy. (Image: X)

ITC secured the eighth position scoring 47.7 points. It focused on affordable and clean energy, decent work and responsible consumption. (Image: X)
Business
Suffolk Punch horse centre cutting back amid cost woes
The stud continues but a visitor centre and cafe closes as the rare-breed centre takes stock.
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