Trump to Boost Global Tariffs to 15% Amid Legal Challenges
President Donald Trump declared on Saturday his intention to elevate global tariffs from 10% to 15%, a move that has sparked immediate reactions across the international trade landscape.
“As President of the United States of America, I will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been 'ripping' the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,” Trump stated on Truth Social.
This announcement follows a significant legal setback for the administration, as the U.S. Supreme Court recently invalidated Trump's extensive use of emergency powers to impose tariffs under the International Emergency Economic Powers Act (IEEPA). The 6-3 ruling represents a substantial challenge to Trump's economic strategy.
In justifying the tariff increase, Trump referenced “a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday.” His remarks reflect a defiance against judicial scrutiny and a commitment to his economic agenda.
Countries worldwide were still processing the implications of Trump's earlier announcement regarding a temporary 10% tariff hike on imports when he signed the proclamation. This initial increase is set to last for 150 days.
In his proclamation, Trump invoked the Trade Act of 1974 as the legal basis for these tariffs. He emphasized that tariffs would remain central to his economic policy despite facing legal hurdles.
“During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of Making America Great Again,” he asserted in his social media post.
The proclamation also noted that certain goods from Canada and Mexico would be exempt from these new tariffs due to existing agreements with the U.S. Additionally, specific agricultural products such as beef, tomatoes, and oranges will not be subject to the increased levies.
