Trump Announces Controversial Tariff Increase Following Supreme Court Ruling

In a surprising move, US President Donald Trump announced via his social network, Truth, that he would impose a 15 percent tariff on all countries. This decision comes after a tumultuous press conference where Trump discussed a Supreme Court ruling that declared many of his previously imposed tariffs as illegitimate and set to be annulled. On Friday evening, during the press briefing, Trump clarified his earlier intent to implement a generalized tariff of 10 percent, but now plans to increase it to 15 percent, effective immediately. The Supreme Court's ruling raised significant concerns about the legitimacy of the tariffs, deeming them invalid due to the manner in which they were introduced. Specifically, the court pointed to the utilization of the International Emergency Economic Powers Act (IEEPA), which allowed Trump to bypass Congress during the tariff imposition process. Determined to act despite these legal setbacks, Trump spoke about leveraging the Trade Act of 1974—legislation that has never been invoked by any president before. This act grants the president the authority to impose tariffs of up to 15 percent for a period of 150 days without prior congressional approval. After this timeframe, continued imposition of tariffs will require Congress's endorsement. The implications of this announcement are significant, as it signals Trump's intention to navigate around the judicial challenges he's facing while continuing his trade policy initiative. The business community and foreign governments are likely to react strongly to the uncertainty this creates in international trade relations. As the economic landscape evolves, all eyes will be on how these new tariffs will impact not only US relationships with trading partners but also the broader economic health of the nation. Related Sources: • Source 1 • Source 2