Donald Trump announced new global tariffs of 15 percent on goods entering the US. The move comes after the Supreme Court of the US struck down his earlier import taxes, according to AP. Trump said he would replace the blocked tariffs with a 10 percent levy, but later raised it to 15 percent under a rarely used trade law.
AP reported, the new measure will be imposed under Section 122 of the 1974 Trade Act. It allows tariffs to remain in place for about five months without congressional approval. The 10 percent rate was set to take effect on February 24, but it is unclear if the 15 percent tariff will start on the same date. The White House has not confirmed the timeline.
In a 6-3 ruling, the Supreme Court said Trump overstepped his powers by using the 1977 International Emergency Economic Powers Act to impose sweeping tariffs last year. The US has already collected at least $130bn in tariffs under that law. Trump criticised the court’s decision and called it anti-American.
The new tariffs will apply to most imported goods, though some products like critical minerals and pharmaceuticals will be exempt. AP wrote, separate tariffs on steel, aluminium and automobiles remain in place. Business groups have warned the move could hurt trade and slow global growth, while others say it will protect American manufacturing.