Trump raises global tariffs from 10 per cent to 15 per cent 'effective immediately'
The Republican president is intent on continuing to make unpredictable use of his favourite tool to prop up the economy and exert pressure globally
Donald Trump raises global tariffs from 10% to 15% effective at midnight on 24 February and for 150 days. This was stated by the US president on his social Truth.
This is the literal translation of the US president's social post:
"Based on a thorough, detailed, and complete analysis of the ridiculous, poorly written, and extraordinarily anti-American tariffs decision issued yesterday, after MANY months of consideration, by the US Supreme Court, please let this statement serve as a representation that I, as president of the US, will, effective immediately, increase the worldwide 10% tariffs on countries, many of which have "ripped off" the US for decades, without retaliation (until I came along!) to the fully permissible and legally tested level of 15%.
Over the next few months, the Trump administration will determine and issue the new legally permissible tariffs, which will continue our extraordinarily successful path to making America great again - GREATER THAN EVER!!!"
In an earlier post on Truth, Trump praised the Supreme Court justices who voted against the ruling on Friday: 'My new hero is Supreme Court Justice Brett Kavanaugh along with, of course, Justices Clarence Thomas and Samuel Alito. There is no doubt that they want to make America great again." The Supreme Court had ruled that the US president cannot use the 1977 International Economic Emergencies Act (Ieepa) to impose tariffs without explicit authorisation from Congress. The law had been created to freeze assets, freeze accounts, and impose sanctions on hostile countries, while Trump had made it a trade tool.
