President Donald Trump has hiked worldwide tariffs to 15 percent after the Supreme Court ruled his reciprocal tax plan was unconstitutional.
Infuriated by the high court’s ruling, Trump on Friday ordered an immediate 10 percent tariff on all imports, in addition to any existing tariffs, citing a different law as the basis.
The new tariff is being applied under Section 122 of the 1974 Trade Act which allows the president to increase levies up to a maximum of 15 percent.
The law allows him to impose the levy for 150 days, although it could face legal challenges.
On Saturday, Trump revealed his plan to bump the tariffs to their upper limit in a stinging post on Truth Social, where he hit out at the justice’s ‘Anti-American’ ruling.
He said in the coming months, his administration would ‘determine and issue the new and legally permissible tariffs.’
His announcement comes a day after the Supreme Court ruled that Trump issuing tariffs without the permission of Congress was unconstitutional.
The Supreme Court said President Trump had exceeded his authority by imposing his ‘Liberation Day’ tariffs last year without Congressional approval.
Trump said he was ‘ashamed’ of the ruling, adding that America’s highest court had been ‘swayed by foreign interests.’
President Donald Trump has hiked worldwide tariffs to 15 percent after the Supreme Court ruled his ‘beautiful’ plan was unconstitutional
Infuriated by the high court’s ruling, Trump on Friday ordered an immediate 10 percent tariff on all imports, in addition to any existing tariffs
He then vowed to find another route to maintain tariffs, which he announced on Saturday.
Speaking at an emergency press conference at the White House last night, Trump said the judges who threw out his plan were ‘a disgrace to our country.’
He said that ‘foreign countries that have been ripping us off for years are ecstatic’ at the court’s ruling.
In a blunt warning, he added: ‘They are dancing in the streets – but they won’t be dancing for long.’
This is a developing story, please check back for updates.
