A day after his stunning loss at the US Supreme Court, President Donald Trump said on Saturday he is raising from 10 to 15 per cent a temporary tariff rate on imports from all countries.
“I, as President of the United States of America, will be, effective immediately, raising the 10 per cent Worldwide Tariff on Countries, many of which have been ‘ripping’ the US off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15 per cent level,” he said on social media.
He also said that in the next “short number of months”, his administration would “determine and issue the new and legally permissible tariffs”.
The announcement came less than a day after he unveiled a 10 per cent tariff on all US imports, on top of existing duties, following the 6–3 Supreme Court ruling that struck down the levies Trump had imposed last year under an economic emergency law.
Trump on Friday invoked Section 122 of the to impose the 10 per cent levy, the first US president to do so. The law allows him to impose a levy of up to 15 per cent for 150 days, though US lawmakers can approve an extension.