Trump to Raise Global Tariff to 15 Percent

“President Trump announced that he would raise his new, global tariff to 15 percent, a day after he took steps to replicate some of the punishing duties that had been struck down by the Supreme Court,” the New York Times reports.

“For some countries, Mr. Trump’s new 15 percent tariff may actually be higher than the rates that previously applied to their exports to the United States. Those tariffs were invalidated on Friday, after a majority of the court’s justices found that the president did not have the authority to issue them using a set of emergency powers.”

“’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 retribution (until I came along!), to the fully allowed, and legally tested, 15% level,’ the president wrote on Truth Social.”