Wow! US President Donald Trump sure acts fast and with certainty. Following his reaction to the Supreme Court of the United States (SCOTUS) decision that found America’s sweeping global tariffs unconstitutional, President Trump announced that he will increase the rate of his new global tariff on imports from the initial 10% to 15%, according to a Kyodo News report.
To put things in perspective, posted below is an excerpt from the Kyodo News report. Some parts in boldface…
U.S. President Donald Trump said Saturday he will raise the rate of his new global tariff on imports from all countries from the 10 percent announced a day earlier to 15 percent, following the Supreme Court’s ruling striking down a core pillar of his economic policy.
Trump announced the sudden change on social media, adding that during “the next short number of months,” his administration will consider introducing other “legally permissible” tariffs.
On Friday, the U.S. Supreme Court struck down Trump’s so-called reciprocal tariffs targeting nearly all of America’s trading partners, as well as fentanyl-related levies he applied to goods from China, Canada and Mexico.
The court ruled that Trump overstepped his presidential powers when he used a 1970s-era emergency law last year to impose those tariffs.
Hours later, Trump responded furiously to the decision at a press conference, announcing the new, across-the-board tariff under a different legal framework, which has never before been used by a U.S. president to impose trade restrictions.
The 10 percent tariff, set to take effect Tuesday, is based on Section 122 of the Trade Act of 1974. It allows import restrictions, including duties of up to 15 percent, if there are “large and serious” trade deficits. Such measures only last 150 days unless Congress approves an extension.
On Saturday, Trump did not say when he plans to raise the rate to the statutory limit.
Let me end this piece by asking you readers: What is your reaction to this development? Considering Trump’s latest action with the new global tariffs, do you think the Supreme Court of the United States made the wrong decision? What is your honest opinion about tariffs right now? Do you think SCOTUS was influenced by foreign entities which opposed Trump’s tariffs?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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