US President Donald Trump has said that he will impose a new global 10 per cent tariff using alternative laws after Supreme Court’s decision to strike down many of his original tariffs. The new tariffs would come under a law that restricts them to 150 days.
He made that announcement after lashing out at the Supreme Court for striking down much of his sweeping tariff infrastructure as an illegal use of emergency power.
Trump said he is absolutely ashamed of justices who voted to strike down his tariffs and called the ruling deeply disappointing. After the supreme court verdict, Trump announced the 10 per cent global tariffs. The administration argues that the United States is facing a large and serious balance-of-payments deficit, citing:
Thereafter, invoking emergency powers under Section 122 of the Trade Act of 1974 to address what he described as “fundamental international payment problems, Trump signed an order stating that the duty will take effect at 12.01 am EST from February 24, and will remain in force for 150 days, unless extended by Congress.