Trump Imposes 10% Global Tariff, Says He’ll Raise to 15%
On Friday, President Donald Trump enacted a new temporary 10 percent global tariff under the Trade Act of 1974. In a press conference, Trump said the new tariffs were being imposed “over and above our normal tariffs already being charged.” In a social media post Saturday, Trump said he was raising the new tariffs to 15 percent. "During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs," Trump said.
The new measures come in reaction to a Supreme Court decision on Friday which invalidated the use of the International Emergency Economic Powers Act of 1977 to justify tariffs unilaterally imposed by the executive branch.
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“Other alternatives will now be used to replace the ones that the court incorrectly rejected,” Trump told reporters on Friday.
The Supreme Court did not rule on whether or not and how the administration should refund any invalid tariffs and questions remain over how that will be resolved. The new global tariffs will last for 150 days, after which they will require congressional authorization to continue.
Editor's note: This article has been updated to reflect Trump's statement on Saturday.
