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Trump Says He’ll Raise Tariffs to 15% After Court Rebuff
President Earlier Announced a 10% Rate
PresidentÌýDonald TrumpÌýsaidÌýhe wants a global tariff of 15%, up from 10% he'd announced Feb. 20Ìýafter the U.S. Supreme Court struck downÌýmany of the far-reaching taxes on imports he had imposed over the last year.
The court’s Feb. 20 decision struck down tariffs Trump had imposed on nearly every country using an emergency powers law.
Trump now said he'll use a different, albeit more limited, legal authority.
He has already signed an executive orderÌýenabling him to bypass CongressÌýand impose a 10% tax on imports from around the world, starting Feb. 24, the same day as his State of the Union speech.
But those tariffs are limited to 150 days unless extended by legislation.
| US Pres Trump hikes 10% global tariffs imposed y'day to 15%
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… — CNBC-TV18 (@CNBCTV18Live)
Trump’s announcement on social media Feb. 21 was the latest sign that, despite the court’s rare check on his powers, the Republican presidentÌýwon’t let go of his favorite toolÌýfor rewriting the rules of global commerce and applying international pressure.
