US President Donald Trump on Saturday raised the global tariffs from 10 per cent to 15 per cent after a big setback in Supreme Court on Friday.
US President Donald Trump on Saturday raised the global tariffs from 10 per cent to 15 per cent after a big setback in the Supreme Court on Friday.
Taking to Truth Social, Trump wrote, “Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, 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.”
“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 – GREATER THAN EVER BEFORE!!! Thank you for your attention to this matter,” he added.
Supreme Court Strikes Down Trump Tariffs
In a major setback for US President Donald Trump, the Supreme Court on Friday struck down sweeping tariffs imposed by his administration, ruling that the president had exceeded his authority by using emergency powers meant for national crises. The court said Trump relied on a law designed for national emergencies to justify broad trade tariffs, which judges concluded went beyond presidential powers.
Why Did Supreme Court Strike Down Trump Tariffs?
The administration had imposed tariffs under the International Emergency Economic Powers Act (IEEPA), a law used during extraordinary national emergencies. The Supreme Court ruled that the use of this law to impose wide-ranging trade tariffs was an overreach of executive authority.
