US President Donald Trump has said that he will implement 15% global tariffs as he continues to criticise a Supreme Court decision that overturned his earlier import taxes. On Friday, Trump announced that he will replace the tariffs struck down by the court with a 10% duty on all goods entering the United States.
However, on Saturday, he revealed on Truth Social that this would be extended to the maximum permitted by a never-used trade statute. The statute allows these new tariffs to remain in effect for around five months before the administration must seek congressional permission.
The 10% tariffs were supposed to go into effect on Tuesday, February 24. It is uncertain whether the higher 15% would be enforced starting then. The BBC called the White House.
The new 15% tax rate, a temporary remedy under Section 122 of the 1974 Trade Act, creates concerns for countries such as the United Kingdom and Australia, which had agreed to a 10% tariff accord with the US. Trump stated that his government decided to hike the tax after reviewing the Supreme Court’s “ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday”.
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