Thu May 29 07:14:21 UTC 2025: Okay, here’s a summary of the text followed by a news article written from an Indian perspective:

**Summary:**

A U.S. court ruling blocked President Donald Trump from imposing sweeping tariffs using emergency powers, leading to a positive reaction in global financial markets. U.S. futures and oil prices rose, and the dollar strengthened. While the White House is appealing the decision and the long-term outcome remains uncertain, investors are relieved after months of trade war turmoil. Asian markets generally rose, except for Taiwan and India, which saw slight declines. The ruling has paused some tariff hikes but concerns about its long-term impact on global commerce, inflation, and economic outlook persist.

**News Article:**

**Indian Markets React Mixedly to US Court’s Tariff Block, Uncertainty Looms**

**New Delhi, May 29, 2025:** Indian markets displayed a cautious reaction today following a U.S. court ruling that temporarily halts President Donald Trump’s ability to impose widespread tariffs under emergency powers. While global markets largely rallied on the news, with U.S. futures surging and Asian markets mostly positive, India’s Sensex edged down by 0.1%.

The U.S. court decision, which challenges the legality of Trump’s use of the 1977 International Emergency Economic Powers Act to justify tariffs, has injected a dose of uncertainty into the global trade landscape. For India, heavily reliant on exports to the US, the ruling presents both an opportunity and a risk.

“The initial market euphoria is understandable given the months of disruption caused by Trump’s trade war,” stated leading market analyst, Rajesh Sharma. “However, the fact that the White House is immediately appealing the decision means the situation remains highly volatile. Indian businesses must remain vigilant.”

The ruling has sent ripples across Asian economies. Japan’s Nikkei 225 jumped 1.9% after repeated appeals to the US to cancel tariffs on imports. South Korea’s Kospi surged 1.8%, driven in part by the Bank of Korea’s decision to cut interest rates to ease economic pressure. China’s Shanghai Composite also saw gains of 0.8%.

The Indian market, however, remained more subdued, indicating investor caution. “While a rollback of tariffs would certainly benefit Indian exporters, we must also consider the potential impact on domestic industries if the US market becomes more accessible to competitors,” noted economist, Priya Patel.

The legal battle over tariffs continues and its impact on global commerce and economic inflation remains uncertain. With the US government appealing, it is too early to predict the long-term outcome, according to financial experts.

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