Trump declares global tariff hike to 15% following court setback
President Trump raised the global tariff rate to 15% after a court struck down certain duties imposed under IEEPA.Summary
President Donald Trump announced an immediate increase of the global tariff from 10% to 15% via Truth Social, asserting his lawful authority following a Supreme Court decision that invalidated certain duties imposed under the International Emergency Economic Powers Act (IEEPA). The administration is shifting its legal basis for these levies to Section 122 of the Trade Act, which permits temporary import duties. Trump confirmed that existing national security and trade enforcement tariffs, including those on steel and aluminum, remain fully in effect. This aggressive trade stance, pursued since his return to office in January 2025, aims to bolster domestic industry, generate federal revenue, and reduce the trade gap, with further tariff measures expected soon.
(Source：Crypto Briefing)