President Trump says he’s imposing a 15% global tariff
WASHINGTON — President Donald Trump announced Saturday that he will increase the global tariffs he wants to impose to 15%, up from 10% announced a day earlier.
Trump said in a social media post that he was making his decision “based on a thorough, detailed and complete review of the ridiculous, poorly written and extraordinarily un-American tariff decision issued yesterday” by the US Supreme Court.
After the court ruled he lacked the emergency power to impose many drastic tariffs, Trump signed an executive order late Friday allowing him to bypass Congress and impose a 10 percent tax on imports from around the world. The problem is that these rates would be limited to just 150 days, unless extended by legislation.
Trump’s announcement of a significant increase in the global tax on imports to the United States is the latest sign that, despite the Court’s scrutiny, the Republican president intends to continue to unpredictably use his favorite tool for the economy and exert global pressure. Trump’s shifting announcements over the past year that he was raising and sometimes cutting tariffs without notice have rattled markets and shaken nations.
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According to the order signed by Trump on Friday evening, the 10% tariff was to take effect starting February 24. The White House did not immediately respond to a message asking when the president would sign an updated order.
In addition to the temporary tariffs that Trump wants to set at 15 percent, the president said Friday that he is also considering imposing tariffs through other sections of federal law that require an investigation by the Commerce Department.
