Trump Implements 15% Global Tariffs Following Supreme Court Ruling
By
blackguardx
A baker's-dozen of insight crammed into one ring.
Summary
President Donald Trump announced a 15% global tariff increase using Section 122 of the 1974 Trade Act, following a Supreme Court ruling that struck down his previous tariffs. The move comes one day after the Court's 6-3 decision and represents an escalation from the 10% tariffs announced on Friday. The law allows Trump to impose tariffs up to 15% for 150 days before Congress must intervene.
Key quotes
· 4 pulledUS President Donald Trump has announced that the US will raise global tariffs to 15%
This is an increase from the 10% rate announced on Friday, when the president invoked a never-before-used law known as Section 122
The law, which falls under the 1974 Trade Act, gives Trump the power to put in place tariffs up to a maximum of 15% for 150 days, at which point Congress must step in
After most of his tariffs were outlawed on Friday, Trump announced new global tariffs of 10% - which he says he has now increased to 15%
You might also wanna read
Trump Imposes 25% Tariff on Chinese-Made Trump Brand Products
President Donald Trump signs an executive order imposing a 25% tariff on authorized Trump-branded products made in China, aiming to bring ma
The Onion·6mo ago
Trump Announces 30% Tariff on Upholstered Furniture Imports
US President Donald Trump has announced new tariffs on imported furniture, including a 30% tariff on upholstered furniture and a 50% tariff
Dezeen·8mo ago
Trump administration appeals order allowing all tariff payers to seek refunds after Supreme Court ruling
The Trump administration plans to appeal a federal judge's order that would allow all companies that paid invalidated tariff duties to seek
cnb.cx·1d ago
Trump administration to appeal ruling allowing tariff refunds for all importers
The Trump administration plans to appeal a federal judge's order that would allow all businesses that paid invalidated tariffs to seek refun
pbs.org·19h ago
US Implements 25% Tariffs on Furniture, Cabinets and Lumber Imports
The Trump Administration has implemented new tariffs of up to 25% on imports of kitchen cabinets, lumber, and certain upholstered furniture
Dezeen·7mo ago