US EditionTrump signs global 10% tariff, says it will take effect 'almost immediately'
President Trump imposed a 10% tariff on all imports under the Trade Act of 1974 after the Supreme Court invalidated his previous emergency powers tariff policy.
- 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.
657 Articles
657 Articles
Treasury Secretary Scott Bessent: Tariff revenue projections ‘unchanged’ after SCOTUS ruling
The U.S. is not projecting any changes to the tariff revenue it will take this year as President Trump is reissuing tariffs the Supreme Court struck down under different legal authority, Treasury Secretary Scott Bessent said Sunday.
Donald Trump Says ’Will Be Raising, Effective Immediately, Worldwide Tariff on Countries to 15% Level'
US President Donald Trump has announced a significant shift in U.S. trade policy, declaring an immediate increase in tariffs to a 15% level on all countries globally. The move, characterized by the administration as a measure to protect domestic industries and strengthen the national economy, marks a major escalation in the use of trade barriers as a primary economic tool. Donald Trump Says ’Will Be Raising, Effective Immediately, Worldwide Tari…
Trump Responds, Issues Global 10% Tariff on all Countries
The United States Supreme Court struck down some of President Donald Trump’s tariffs on Friday, delivering the President a rare loss. As the Globe reported, the ruling impacts the 10 percent tariff Trump imposed on most countries, as well as specific, higher tariffs on some of the top U.S. trading partners, including Canada, Mexico, China, the European Union, Japan and South Korea. The President reacted immediately and said while he was disappoi…
Donald Trump announced on Saturday, February 21, that he would increase his new global customs tax from 10% to 15% "with immediate effect", after the major setback imposed the previous day by the Supreme Court on its aggressive trade policy, which was found to be largely illegal.
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