Trump vows to raise worldwide tariffs to 15% ‘effective immediately’
Trump announces plan to raise worldwide tariffs ‘effective immediately’
- Donald Trump has declared an immediate increase in worldwide tariffs to 15%, up from 10%.
- This decision follows a Supreme Court ruling that deemed his previous global tariffs, implemented under the International Emergency Economic Powers Act, illegal.
- Trump expressed strong disappointment with the 6-3 Supreme Court decision, criticizing Republican appointees for not supporting his policy.
- He stated his administration would now utilize the 1974 Trade Act to implement the new tariffs.
- The 1974 Trade Act permits a maximum tariff of 15 per cent for a period of 150 days, unless extended by a congressional vote.
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