Global Economic Jolt: Trump Vows 15% Tariffs After Supreme Court Defeat
President Donald Trump has significantly escalated his tariff policy following a landmark Supreme Court ruling that declared his reciprocal tax plan and other tariffs unconstitutional. Infuriated by the high court's decision, Trump on Friday ordered an immediate 10 percent tariff on all imports, to be applied in addition to any existing tariffs. This move was based on Section 122 of the 1974 Trade Act, a statute that allows the president to increase levies up to a maximum of 15 percent.
The situation intensified on Saturday when Trump revealed his plan to raise these tariffs to their upper limit of 15 percent in a stinging post on Truth Social. This marks a historic application of Section 122, a law that had never been imposed before in this manner. It permits the president to impose such a levy for 150 days and was originally issued under President Richard Nixon to address issues like the
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Global Economic Jolt: Trump Vows 15% Tariffs After Supreme Court Defeat
Following a Supreme Court ruling declaring his tariff policy unconstitutional, President Donald Trump escalated his trad...
