Trump raises global tariffs from 10% to 15%, day after US Supreme Court ruling
&imwidth=600&imheight=450&format=webp&quality=medium "Trump raises global tariffs from 10% to 15%, day after US Supreme Court ruling")
Photograph: (AFP)
President Donald Trump raised tariffs to 15 per cent on countries worldwide, a day after he announced 10 per cent global tariffs.
President Donald Trump raised tariffs to 15 per cent on countries worldwide on Saturday (Feb 21), a day after he announced 10 per cent global tariffs following the US Supreme Court's decision to strike down the tariffs he had imposed under the International Emergency Economic Powers Act (IEEPA), saying it "does not authorise the President to impose tariffs."
He described the Supreme Court decision to curtail his ability to use tariffs as a tool to achieve political goals and push his economic agenda as “ridiculous, poorly written, and extraordinarily anti-American.”
"Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been “ripping” the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level," he said in a post on Truth Social.
The US president declared that his administration will find new and legally permissible ways to impose tariffs.
"During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of Making America Great Again - GREATER THAN EVER BEFORE!!!," he added.
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Following the apex court's judgement on Friday, Trump vowed to use other methods to reinstate sweeping tariffs that the Supreme Court struck down. “Other alternatives will now be used to replace the ones that the court incorrectly rejected,” adding that these options could also bring in more revenue.
Trump invoked Section 122 of the Trade Act of 1974 to impose a temporary 10 per cent ad valorem duty on most imports for 150 days, effective February 24, describing it as a legally permissible interim measure while a longer-term tariff structure is worked out.
