"Donald Trump has announced an increase in his newly imposed global tariff rate, raising it from 10% to 15% on most imported goods entering the United States, a move that directly impacts trade dynamics and economic policy considerations for analysts and followers. The decision comes just a day after Trump signed an executive order establishing a 10% global tariff - a move launched in response to a recent ruling by the Supreme Court of the United States."
"The new 15% global tariff will take effect immediately. Under the statutory authority Trump cited - Section 122 of the Trade Act of 1974 - tariffs imposed in this way typically last about 150 days unless extended or replaced through further legal or congressional action, underscoring their temporary nature and the potential for future policy adjustments. Trump also suggested at the press briefing that other mechanisms, including broader trade restrictions or embargoes on specific countries, could be used if necessary to achieve his policy aims,"
Donald Trump raised the global tariff rate from 10% to 15% on most imported goods entering the United States and said the increase takes effect immediately. The decision followed an executive order issued the previous day that had set a 10% global tariff after a Supreme Court ruling invalidated much of his earlier tariff regime under the International Emergency Economic Powers Act. The President cited Section 122 of the Trade Act of 1974, under which such tariffs typically last about 150 days unless extended or replaced. The move intensifies legal debate over executive trade authority and signals possible further trade restrictions or embargoes.
Read at London Business News | Londonlovesbusiness.com
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