President Donald Trump announced Saturday an immediate increase in the global tariff from 10% to 15% in a move widely seen as a response to a court decision on Friday that struck down certain duties he imposed under the International Emergency Economic Powers Act (IEEPA).
Trump unveiled the new rate in a post on Truth Social, stating that the move is within his lawful authority. The US’ chief executive also noted that the administration will soon establish additional tariff measures to advance his trade agenda.
That came shortly after Trump asserted that existing national security and trade enforcement tariffs would stay in place despite the Supreme Court ruling.
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