US EditionTrump signs global 10% tariff, says it will take effect 'almost immediately'
President Trump issued a 10% global tariff using Section 122 of the Trade Act of 1974, effective within days, to maintain tariff revenue after the Supreme Court invalidated his prior emergency powers.
- Yesterday, President Donald Trump signed an order in the Oval Office imposing a 10% global tariff, posting on Truth Social that it was effective almost immediately.
- The Supreme Court ruled six-three that the International Emergency Economic Powers Act does not authorize the president to impose tariffs, Chief Justice John Roberts stated that taxing power lies with Congress.
- Legal filings note the tariffs are limited to 150 days under the Trade Act of 1974, with IEEPA providing the authority, as Kavanaugh wrote.
- Companies and small plaintiffs say the U.S. Treasury has collected 133 billion dollars and the Penn Wharton Budget Model projects up to 175 billion in refunds, with Mr Trump expecting years of litigation.
- Close US trading partners including the EU and Britain said they are studying the ruling and remain in contact with the U.S. administration, while Canada called the levies unjustified and braced for turbulence.
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'Effective immediately': Trump responds to SCOTUS ruling by ordering new global tariff · American Wire News
The Supreme Court’s “nonsensical” tariff ruling found the president “doubling down” with a new effort, “effective immediately,” with a “more powerful Right than many people thought we had.” Only days before President Donald Trump is slated to make the first official State of the Union address of his second administration, a 6-3 ruling from the Supreme Court determined that the International Emergency Economic Powers Act (IEEPA) could not be used…
The US Supreme Court has ruled; Trump has announced new 10 percent global tariffs.
Supreme Court ruling offers little relief for Republicans divided on Trump’s tariffs
By STEPHEN GROVES WASHINGTON (AP) — For a few hours on Friday, congressional Republicans seemed to get some relief from one of the largest points of friction they have had with the Trump administration. It didn’t last. The Supreme Court struck down a significant portion of President Donald Trump’s global tariff regime, ruling that the power to impose taxes lies with Congress. Many Republicans greeted the Friday morning decision with measured sta…
The US trade partners in Asia began Saturday analysis of the effects of new uncertainty on global trade, after President Donald Trump announced the imposition of a new tariff on US imports, according to News.ro. The US President's announcement came only a few hours after the U.S. Supreme Court cancelled a significant part of the tariffs due to the birth of a global trade war.
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