US President Donald Trump has signed a fresh executive order imposing a 10 per cent tariff on imports from countries around the world, just hours after the Supreme Court of the United States struck down much of his earlier sweeping import duties.

The new tariffs, which Trump said will take effect “almost immediately”, are being introduced under a law that limits such measures to 150 days. Describing the move as the beginning of an “adjustment process”, the President signalled that his administration would explore alternative routes to maintain revenue from import duties.

Trump criticises top court ruling

The Supreme Court’s 6-3 decision dealt a significant blow to a key part of Trump’s economic strategy. The ruling invalidated large portions of the administration’s previous tariff framework, prompting a sharp response from the President.

In posts on Truth Social, Trump said certain members of the court “should be ashamed of themselves” and termed the judgment “deeply disappointing”. He argued that the tariff mechanism used by his administration had been “acceptable and proper” and insisted that the new order was legally sound.

Trump also claimed that his use of tariffs over the past year had contributed to economic gains, citing milestones in the stock market. He said the Dow had crossed 50,000 and the S&P had reached 7,000, levels he argued were achieved sooner than expected following his election victory.

Tariffs central to Trump’s policy push

Tariffs have remained a central pillar of Trump’s economic and trade agenda. In April, he had announced “reciprocal” taxes of up to 50 per cent on imports from countries with which the United States runs trade deficits, along with a 10 per cent baseline tariff on most other nations.

He invoked a 1977 law to declare the trade deficit a national emergency, justifying broad import taxes. However, after global backlash, the administration paused the higher reciprocal tariffs for 90 days to allow for negotiations.

According to Trump, several countries agreed to revised trade terms during that period, while others faced steeper duties. He also reiterated claims that tariffs strengthened national security and helped curb fentanyl inflows by 30 per cent when used as penalties against certain countries.

“All of those tariffs remain,” Trump said, adding that other measures would now replace those struck down by the court.

The latest order underscores escalating tensions between the White House and the judiciary, as the administration seeks to preserve a cornerstone of its trade policy while navigating legal constraints.

India and Switzerland placed artificial intelligence, innovation-led growth and expanding economic cooperation at the centre of bilateral discussions as Prime Minister Narendra Modi met Swiss President Guy Parmelin on the sidelines of the AI Impact Summit in New Delhi.

President Parmelin is on a two-day visit to India to participate in the summit, with both sides describing the relationship as friendly and multifaceted. The talks took place at a time when artificial intelligence is increasingly shaping global governance debates, economic competitiveness and social transformation.

AI governance and responsible innovation in focus

Speaking after his engagements at Bharat Mandapam, President Parmelin thanked India for hosting what he described as a landmark gathering. He said artificial intelligence holds transformative potential across sectors such as education, healthcare, work and communication.

He underlined that the benefits of AI are not automatic and depend on timely policy frameworks and safeguards. According to him, governing AI responsibly can help reduce inequality and ensure that technological progress benefits broader sections of society.

The Swiss President said India and Switzerland share similar values in balancing innovation with accountability. He noted that artificial intelligence presents an opportunity to shape a more equitable technological transition than earlier industrial revolutions, provided governments act proactively.

Trade and economic partnership reviewed

Beyond AI, the two leaders reviewed the full spectrum of India-Switzerland ties, including trade and investment, science and technology, innovation, skill development, and people-to-people exchanges.

Economic cooperation featured prominently in the discussions. Both sides welcomed the momentum following the implementation of the India-European Free Trade Association Trade and Economic Partnership Agreement. Switzerland is a member of the European Free Trade Association, and the agreement is expected to boost trade and investment flows between India and EFTA countries.

President Parmelin said economic relations have gained fresh dynamism since the agreement’s rollout. He also indicated that a bilateral investment treaty could further encourage Swiss investment in India while supporting sustainable job creation.

Swiss companies are already present in sectors such as engineering, pharmaceuticals and financial services, with both governments identifying opportunities in advanced manufacturing, clean technologies and research collaboration.

Future AI summits and multilateral cooperation

Artificial intelligence remained the central theme of the engagement. Prime Minister Modi welcomed Switzerland’s decision to host the next global AI Summit in Geneva in 2027. President Parmelin said the event would reinforce Switzerland’s role in digital policy discussions and highlight Geneva’s position as a hub of international diplomacy and law.

He added that the 2027 summit would be followed by the 2028 AI Summit to be hosted by the United Arab Emirates, with Switzerland working in partnership.

Referring to previous AI-focused gatherings held in Bletchley Park, Seoul and Paris, Parmelin described the Delhi summit as part of a continuing global effort to shape common principles for AI governance.

Despite the brevity of his visit, the Swiss President said it was important to participate in discussions that would influence the shared future shaped by artificial intelligence.

The meeting reflected India’s growing role in global technology governance debates, while reinforcing Switzerland’s identity as both an innovation hub and a proponent of multilateral cooperation.

US President Donald Trump has once again asserted that he played a decisive role in halting last year’s military confrontation between India and Pakistan, claiming he warned both countries of steep trade penalties if they did not de-escalate tensions.

Speaking at his “Board of Peace” event, Trump said he threatened to impose 200 per cent tariffs on the two countries during the 2025 standoff. He further alleged that 11 fighter jets were shot down during the confrontation, raising the number from his earlier claim of seven aircraft losses.

India, however, has consistently rejected assertions of third-party mediation and has denied any aircraft losses during the conflict.

Trump’s remarks at event

During the event, Trump asked Pakistan’s Prime Minister Shehbaz Sharif to stand up while recounting what he described as his diplomatic intervention. He repeated his claim that Sharif had credited him with saving “25 million lives” by brokering a truce between New Delhi and Islamabad.

“That war was raging. Planes were being shot down,” Trump said, adding that he personally contacted leaders from both nations and warned them against continuing hostilities.

He claimed that trade leverage played a crucial role in persuading both sides to step back. “If you fight, I’m going to put 200 per cent tariffs on each of your countries,” Trump said, adding that economic consequences prompted them to agree to what he described as a deal.

The US President has repeatedly stated that he prevented multiple global conflicts during his second term, including the India-Pakistan standoff, and has mentioned his role in the matter more than 80 times since May 10 last year.

India maintains no external mediation

India has firmly maintained that the cessation of hostilities in May 2025 followed direct communication between the Directors General of Military Operations (DGMOs) of the two countries.

The confrontation followed India’s launch of Operation Sindoor on May 7, targeting terror infrastructure in Pakistan and Pakistan-occupied Kashmir. The operation was carried out in response to the April 22 Pahalgam attack, in which 26 civilians were killed.

New Delhi has consistently denied claims of foreign intervention in the de-escalation process as well as assertions regarding the loss of fighter jets during the military engagement.