Factbox-Nations and sectors most vulnerable to tariffs imposed by Trump under IEEPA

Supreme Court to Decide on Trump-Era Tariffs

The U.S. Supreme Court is expected to deliver decisions this Friday regarding the legality of tariffs enacted by former President Donald Trump under the International Emergency Economic Powers Act (IEEPA).

If the Court rules these tariffs unlawful, the government may be required to reimburse importers nearly $150 billion in tariff payments.

Several prominent companies—including Costco, Revlon, EssilorLuxottica (the maker of Ray-Ban), Bumble Bee Foods, Yokohama Tire, and Kawasaki Motors—have filed lawsuits against the U.S. government, contesting the IEEPA-based tariffs and seeking refunds for the duties they paid.

The tariffs implemented under the emergency powers fall into three main categories: measures targeting fentanyl-related imports from China, Mexico, and Canada; broad "reciprocal" tariffs aimed at reducing trade imbalances; and punitive tariffs imposed for political reasons unrelated to trade.

Key sectors such as pharmaceuticals, energy, agriculture, services, and the aerospace industry have largely been shielded from these tariffs, due to their essential roles, global supply chain integration, and the potential effects on public health and international trade.

Meanwhile, the United States has reached agreements with the European Union and countries like the United Kingdom, Japan, South Korea, Vietnam, and Switzerland to lower tariffs in exchange for increased market access and investment pledges.

Countries and Industries Affected by IEEPA Tariffs

Additional Countries and Sectors Facing Tariffs

• China-plus-one manufacturing hubs (Vietnam, Thailand, Indonesia): Digital products, furniture, homeware, auto parts. Companies include Hewlett Packard, VF Corp, and Lululemon.
• India: Pharmaceuticals, refined fuels, specialty chemicals, gems and jewelry, agriculture, auto components, toys. Major exporters: Sun Pharma, Dr. Reddy's, Reliance-linked firms, Mattel, Hasbro. Tariffs can reach up to 50% on certain key exports.
• Brazil: Steel, aluminum, agricultural products. Companies such as Embraer, ArcelorMittal, Gerdau, and Marfrig face punitive tariffs of 40%, plus an additional 10% "reciprocal" tariff.
• South Asia (excluding India): Apparel, textiles, sports goods. Brands like H&M, Gap, Victoria's Secret, Adidas are affected. Tariffs are 19% on Pakistan, 20% on Bangladesh and Sri Lanka.

Reporting by Pooja Menon and Puyaan Singh in Bengaluru; Edited by Alan Barona