WASHINGTON DC: US President Donald Trump has declared that he will increase global tariffs to 15%, following a Supreme Court decision that struck down his previous import tax measures.
On Friday, Trump had initially said he would replace the voided tariffs with a 10% levy on all goods entering the US. However, on Saturday, he announced on Truth Social that the rate would be raised to the maximum permitted under a rarely used trade law, which allows the tariffs to remain in effect for about five months before requiring congressional approval.
The 10% tariffs were originally scheduled to begin on Tuesday, 24 February, but it remains unclear if the new 15% rate will start on the same date, BBC reported.
The temporary 15% levy, authorized under Section 122 of the 1974 Trade Act, could affect countries such as the UK and Australia, which had negotiated a 10% tariff deal with the US. Trump explained that the increase followed a review of the Supreme Court’s “ridiculous, poorly written, and extraordinarily anti-American” ruling.
In a 6-3 decision, the Court found that Trump had exceeded his authority when imposing broad global tariffs last year under the 1977 International Emergency Economic Powers Act (IEEPA). To date, the US has collected at least $130 billion in tariffs under IEEPA. Reacting to the ruling, Trump criticized some justices, calling them “fools” and expressing shame at certain members of the Court.
The decision was supported by the Court’s three liberal justices, Chief Justice John Roberts, and two Trump-nominated justices, Amy Coney Barrett and Neil Gorsuch. Conservative justices Clarence Thomas, Brett Kavanaugh, and Samuel Alito dissented.
(Inputs from BBC)
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