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The UK’s decision to reduce tariff-free steel quotas by 60 per cent could undermine the commercial gains expected from the FTA for Indian exporters.

However, the Punjab State Electricity Board Engineers Association has challenged the PSERC tariff order before APTEL, admitted for July hearing soon.

The Court ruling stated that the measures exceeded powers granted by Congress under Section 122 of the Trade Act of 1974

The United States Court of International Trade, in a 2-1 ruling on May 7, said the Trump administration had gone beyond the powers given by Congress under Section 122 of the Trade Act of 1974.

The Court of International Trade ruling on Thursday ordered defendants to implement the decision within five days, and for the importers who sued in this case to receive refunds.

EU chief Ursula von der Leyen said Thursday that the bloc has made "good progress" towards ratifying the deal by early July.