Trump Imposes 15% Tariff on Global Imports After Supreme Court Overturns Previous Levy
Summary
US President Donald Trump has imposed a 15% tariff on global imports following a Supreme Court ruling overturning his earlier import tax, invoking a different legal provision to enforce the new duty starting February 24.
Key Points
- US President Donald Trump announced a 15% customs duty on imports, increasing from the previously set 10%.
- The tariff is imposed using Section 122 of the Trade Act of 1974, allowing a temporary tariff without Congress approval.
- The Supreme Court had overturned Trump's earlier tax imposed under the International Emergency Economic Powers Act by a 6-3 majority.
- Trump criticized the court's decision and aims to reduce the US trade deficit with the new tariff effective from February 24.
