Trump announces he is hiking global tariffs to 15% as he comes out swinging against Supreme Court loss
President Donald Trump raised worldwide tariffs to 15 percent after the Supreme Court ruled that the reciprocal tariff plan was unconstitutional.
Angered by the high court’s ruling, Trump on Friday ordered an immediate 10 percent tariff on all imports, on top of existing tariffs, based on a different law.
The new tariff is implemented under Section 122 of the 1974 Commercial Code, which allows the president to increase taxes by a maximum of 15 percent.
The fact that it has never been imposed before makes this a historic moment for the Trump Administration. The law gives authority to impose the tax for 150 days, although it faces legal challenges.
On Saturday, Trump announced his plan to cap tariffs in a scathing post on Truth Social, where he lashed out at Supreme Court justices and their ‘Un-American’ decisions.
This came after a press conference on Friday in which he claimed he was conservative on tariffs and wanted to respect the courts.
‘I was very modest in my requests from other countries and businesses because I wanted to be treated very well,’ he said. ‘I understand how easily they are manipulated. ‘I want to be a good boy.’
But the president has since made clear that he would go to war with Conservative Chief Justice John Roberts, who was branded an ‘unpatriotic’ and ‘disloyal’ member of the Court in the wake of the decision.
President Donald Trump raises global tariffs to 15 percent after Supreme Court rules ‘nice’ plan unconstitutional
The president has made it clear that he will go to war with Conservative Chief Justice John Roberts, who he says is ‘unpatriotic’ and a ‘disloyal’ member of the Court for voting against his policies.
Although he did not undermine the Court’s decision, he suggested that the conservative justices owed him some loyalty. The duty of a Supreme Court judge is to protect the Constitution, not party values.
He took particular interest in Justices Amy Coney Barrett and Neil Gorsuch, both of whom he appointed.
The Supreme Court ruled that Trump’s imposition of tariffs without the consent of Congress was unconstitutional.
The report stated that President Trump exceeded his authority by imposing ‘Independence Day’ tariffs without Congressional approval last year.
Trump said he was “embarrassed” by the decision and added that America’s highest court was “guided by foreign interests.”
He then promised to find another way to maintain the tariffs he announced on Saturday.
Speaking at an emergency press conference at the White House last night, Trump said the judges who rejected his plan were “a disgrace to our country.”
“Foreign countries, which have been ripping us off for years, are very happy” with the court’s decision, he said.
Angered by the high court’s decision, Trump on Friday ordered an immediate 10 percent tariff on all imports, on top of existing tariffs.
Giving a clear warning, he added: ‘They are dancing in the streets, but they won’t be dancing for long.’
Section 122 is intended to be used for short-term emergencies, not for the length of presidential terms or economic policy.
Trump said in a post on Saturday that his administration will “identify and publish new, legally permissible tariffs” in the coming months.
Section 122 limits how high Trump can raise tariffs and for how long.
The policy was issued under President Richard Nixon. axios reported.
Congress approved this as a way to prevent ‘dollar depreciation in foreign exchange markets’ and correct ‘international balance of payments disequilibrium’, which was Nixon’s goal.
There are a few more Departments Trump can use to continue implementing his tariff plan.
Section 301, which Trump used in his first term, gives the president the authority to impose tariffs against ‘discriminatory’ foreign trade practices and enables investigations by the US Trade Representatives.
Traders were on the stock market Friday as the Supreme Court ruled on tariffs
Trump used this law to impose tariffs on Chinese imports during his first term.
The president also invoked Section 232 of the U.S. Trade Expansion Act of 1962, which allows him to restrict imports that could threaten national security.
He used the policy for steel and aluminum.
According to Axios, Section 338 of the Tariff Act of 1930 also allows it to use tariffs against countries that discriminate ‘against the commerce of the United States.’
