Trump Announces Tariff Hikes Following Supreme Court Ruling

President Donald Trump announced Saturday he plans to raise global tariffs from 10% to 15%, a day after the U.S. Supreme Court struck down his sweeping utilize of emergency powers to impose tariffs under the International Emergency Economic Powers Act (IEEPA).

Supreme Court Ruling

The 6-3 Supreme Court ruling is a significant setback to Trump’s economic policy agenda. The court challenged the president’s authority to impose tariffs based on national security concerns without congressional approval.

Justification for New Tariffs

Trump stated his decision to raise tariffs to 15% is based on “a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday.” He signed a proclamation Friday night to impose a temporary 10% hike on imports of goods from around the world, limited to 150 days.

Trade Act of 1974

The president’s proclamation cites the Trade Act of 1974 as authorizing the tariffs. Trump indicated he intends to continue prioritizing tariffs as a key component of his economic policy, despite the legal challenges.

Exemptions

Certain goods from Canada and Mexico, covered under a separate agreement with the U.S., will be exempt from the new tariffs. The levies will also not apply to specific agricultural products, including beef, tomatoes, and oranges.