Donald Trump on Friday announced that he has signed an executive order imposing a 10% tariff on imports from every country. The move intensifies his trade policy agenda and comes just hours after the Supreme Court of the United States invalidated his previous broad import tariffs.
“It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately,” Trump wrote on Truth Social.
Earlier in the day, Trump had said, “Today, I will sign an order to impose a 10% global tariff under Section 122, over and above our normal tariffs already being charged,” declaring, “I can charge much more.”
The new tariff will come into force almost immediately and will remain effective for approximately five months under Section 122 of the Trade Act of 1974.
On being asked whether the duties could extend beyond 150 days, he said, “We have a right to do pretty much what we want to do, but we’re going to change it starting effectively. I think it’s three days from now.”
The action follows the court’s 6–3 decision striking down his use of the International Emergency Economic Powers Act to levy tariffs without congressional approval. Donald Trump strongly condemned the ruling, describing it as “deeply disappointing” and stating that he was “ashamed of certain members of the court.”
Donald Trump contended that although the ruling curtails the use of tariffs under the International Emergency Economic Powers Act (IEEPA), it does not constrain other authorities available to the executive branch.
I can destroy the trade, I can destroy the country. I’m even allowed to impose a foreign country-destroying embargo. I can embargo. I can do anything I want, but I can’t charge $1 because that’s not what it says,” he said. “How ridiculous is that?
He referred to the dissenting opinion of Brett Kavanaugh, which indicated that the ruling may not substantially limit a president’s authority to impose tariffs in the future.
“He’s right. In fact, I can charge much more than I was charging,” Trump said.
He said that multiple Section 301 investigations into unfair trade practices are being initiated “to safeguard our nation from the unjust trade practices of foreign countries and corporations.”
“We have alternatives, great alternatives,” Trump added. “Could be more money. We’ll take in more money, and we’ll be a lot stronger for it.”
Although tariffs imposed under Section 122 are limited to a maximum of 15% and may remain in effect for no more than 150 days, Donald Trump indicated that more expansive measures could follow.
When asked whether tariff rates might increase further through additional Section 232 national security investigations or Section 301 actions, he responded, “Potentially higher. It depends. Whatever we want them to be.”
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: ZEE News
