New Delhi: Hours after the Supreme Court struck down US President Donald Trump’s tariff orders, he announced a fresh round of global tariffs, imposing a 10 per cent levy on imports from all countries over and above existing duties.
“It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately,” Trump wrote on Truth Social.
The new levy will take effect almost immediately and will remain in place for about five months under Section 122 of the Trade Act of 1974. “During that period of about five months, we are doing the various investigations necessary to put fair tariffs, or tariffs, on other countries,” Trump told reporters.
The announcement about the new tariffs came hours after the US Supreme Court, in a 6-3 decision, invalidated Trump’s use of the International Emergency Economic Powers Act to impose tariffs without congressional approval. The US President slammed the court’s ruling, calling it “deeply disappointing” and saying he was “ashamed of certain members of the court.”
Trump further said that the court’s decision would not derail his trade agenda and claimed he now had “stronger” alternatives to raise revenue.