Trump introduces a new 10 percent global tariff
Washington, February 21 (Hibya) - U.S. President Donald Trump introduced a new 10 percent global tariff to replace the duties overturned by the Supreme Court. Trump described the court’s decision as “terrible” and criticized the judges who rejected his trade policy.
Trump announced the new tariff plan immediately after the judges blocked most of the global tariffs unveiled by the White House last year.
The Court ruled 6-3 that the president had exceeded his authority.
The decision was a major victory for businesses and U.S. states challenging the tariffs and potentially opens the door to billions of dollars in refunds, while adding new uncertainty to global trade.
Trump said he would immediately sign an order under Section 122 of the Trade Act of 1974 to raise global tariffs by 10 percent and launch investigations into unfair trade practices.
On Friday evening, Trump wrote on Truth Social that he was honored to sign the 10 percent global tariff for all countries, which would take effect almost immediately.
The White House later confirmed the move as a “temporary import tax.”
The Congressional Research Service explained that Section 122 allows the president to take temporary measures, including additional import duties, in response to serious balance-of-payments deficits.
However, the law limits such tariffs to no more than 150 days and a maximum rate of 15 percent.
Usa News Agency
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