New US tariffs come in at lower 10 per cent rate
The United States imposed a new 10 percent tariff on all goods not covered by the exemption; This rate was later announced by President Donald Trump instead of the 15 percent he promised.
Reacting to the US Supreme Court’s decision on Friday, which canceled the customs duties that he deemed illegally justified on emergency grounds, Trump first announced a new temporary global customs tax of 10 percent.
He said he would increase this rate to 15 percent on Saturday.
But in a statement that was intended to “provide guidance on the February 20, 2026 Presidential Proclamation,” U.S. Customs and Border Protection said imports as well as products covered by the exemption “will be subject to an additional value-based rate of 10 percent.”
The move added to the confusion surrounding US trade policy, and the announcement provided no explanation as to why the lower rate was used.
The Financial Times quoted a White House official as saying that an increase of up to 15 percent would occur later.
Reuters could not immediately confirm this.
“Note that Trump will deliver his State of the Union address tonight, so we may have a better understanding of next steps regarding tariffs,” Deutsche Bank analysts said in a note. he said.
While the new tariffs came into force at midnight on Tuesday, the collection of the tariffs canceled by the Supreme Court was stopped.
They ranged from 10 percent to 50 percent.
It remains unclear whether and how tariff payments made under the regime canceled by the Supreme Court will be refunded to companies.
The Section 122 law allows the president to impose new mandates for up to 150 days to address “large and serious” balance of payments deficits and “fundamental international payment problems.”
Trump’s tariff order argued for the existence of a serious US balance of payments deficit in the form of an annual goods trade deficit of US$1.2 trillion ($1.7 trillion), a current account deficit of 4 percent of GDP and a reversal of the US primary income surplus.
Trump on Monday warned countries not to back away from previously negotiated trade deals with the United States and warned that he would impose much higher tariffs on them under different laws.
Japan said it wants the United States to ensure its treatment under a new tariff regime is as favorable as under an existing agreement.
The European Union, the United Kingdom and Taiwan also stated that they preferred to stick to their agreements.
Meanwhile, China has called on Washington to abandon “unilateral tariffs”, showing it is willing to hold another round of trade talks with the world’s largest economy, China’s commerce ministry said on Tuesday.
