Washington DC: A day after the Supreme Court struck down Donald Trump's global tariffs, Trump on Saturday raised the global tariffs from 10 per cent to 15 per cent.
Taking to Truth Social, Trump wrote, "Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been “ripping” the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level."
"During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs ,which will continue our extraordinarily success process of Making America Great Again GREATER THAN EVER BEFORE!!!," he added.
For the unversed, in a major setback for Trump, the top court on Friday struck down the global tariffs imposed by his administration, ruling that the president had exceeded his authority by using emergency powers meant for national crises.
The new global tariff has been brought under Section 122 of US trade law, also referred to as a balance-of-payments tariff. The law allows the president to impose tariffs up to the 15 per cent limit, which can remain in effect for up to 150 days. Any extension beyond that period would require approval from Congress. The new duty is slated to take effect on 24 February.
