US President Donald Trump on Saturday doubled down on the global tariffs issue announcing that his administration would raise reciprocal tariffs to 15 per cent, 5 per cent up from his earlier announcement.
The development comes a day after the US Supreme Court struck down the Republican President’s reciprocal tariffs announced shortly after he assumed his Presidency for a second time last year.
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“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,” Trump said on Truth Social.
To be sure, Trump has invoked powers under Section 122 of the Trade Act of 1974, which gives the US President powers to impose tariffs in order to address balance of payments problems. However, Trump now has 150 days, after which the presidential order automatically expires unless Congress votes to extend them.
Also Read: Trump attacks Supreme Court justices over tariff ruling: ‘Embarrassment to their families’
“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 successful process of Making America Great Again,” his social media post added.
A Supreme Court ruling, Trump’s criticism and “counter-attacks”
On Friday, the US Supreme Court ruled that the tariffs imposed by Trump under an emergency powers law were unconstitutional, including the “reciprocal” tariffs he levied on almost every other country.
The 6-3 decision held that the 1977 International Emergency Economic Powers Act (IEEPA) does not authorise the President to impose tariffs.
Trump lashed out at the Supreme Court and said he was “absolutely ashamed” of the judged who ruled against him, calling them “disloyal to our Constitution” and “lapdogs.”
Hours later, he imposed a 10% “global tariff” on all US trading partners. White House officials later clarified that for countries, including India, that have signed trade agreements with the US, tariff levels will temporarily fall to 10 per cent before new tariffs can be levied.
Earlier in the day, Trump heaped praises for the three dissenting judges involved in the tariff verdict against his administration’s tariffs.
“My new hero is United States Supreme Court Justice Brett Kavanaugh and, of course, Justices Clarence Thomas and Samuel Alito. There is no doubt in anyone’s mind that they want to, MAKE AMERICA GREAT AGAIN!” Trump wrote on Truth Social.
