US President Donald Trump has hiked global tariffs to 15%, he announced through a post on Truth Social. This comes after the US Supreme Court’s ruling against the levies.
“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,” President Trump said in a post on Truth Social.
According to Trump the decision is based on detailed and complete review of the decision by the Supreme Court on Friday.
The 6-3 decision centred on tariffs imposed under an emergency powers law, including the sweeping “reciprocal” tariffs he levied on nearly every other country.
The tariffs decision doesn’t stop Trump from imposing duties under other laws. While those have more limitations on the speed and severity of Trump’s actions, top administration officials have said they expect to keep the tariff framework in place under other authorities.
Donald Trump had announced 10% global tariffs on Friday, barely a few hours after the Supreme Court struck down his policy of imposing so-called reciprocal levies on all trading partners.
Trump, in the White House press briefing early morning on Friday, said he will be using powers vested under Section 122 of the Trade Act of 1974 to impose new tariffs on all trading partners of up to 10%. Additionally, all import levies pressed under Section 232 and Section 301 will “remain in effect”, as the apex court order does not annul them, he added.
There is a “backup plan” with him, Trump said, adding that he will use alternative measures to reimpose the “reciprocal” levies. The fresh 10% tariffs will be in addition to the existing levies that were struck down by the court, he claimed.
Furious over the Supreme Court loss, Trump accused the US judiciary of weighing in foreign interests. “My opinion that the court has been swayed by foreign interests,” the President said, adding that the case carring economic security implications.
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