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Washington: US President Donald Trump has announced a major global tariff hike, completely ignoring the recent Supreme Court ruling. The Supreme Court struck down the sweeping tariffs imposed by the Trump administration, declaring them unconstitutional and illegal, but just a day later, the president decided to further tighten his policy. Posting on his social media platform, Truth Social, Trump (Trump ) announced that, effective immediately, the tariff on imports from all countries worldwide will be increased from 10% to 15%.
What did Trump say?
US President Donald Trump posted on social media, “Effective immediately, the 10% tariff on all countries worldwide will be increased to 15%.” Trump said that many countries have been taking advantage of the United States for decades, but now his government is preventing them. He said that in the coming months, he will finalize more new taxes, which will be legal. His goal is to make America stronger and greater than ever before!
What basis did Trump make this decision?
Trump made this decision under Section 122 of the Trade Act of 1974, which allows the president to impose tariffs up to 15 percent for up to 150 days in the event of a balance of payments deficit. Previously, Trump had imposed a temporary global tariff of 10 percent on Friday. Now, with the increase to 15 percent, this tariff has reached the maximum limit.
Trump has called the tariffs necessary.
Trump’s move could have a profound impact on international trade. Trump has repeatedly emphasized that tariff policies are necessary to protect the United States from long-term losses. He said that previous governments allowed other countries to take advantage of the United States, but now the situation is changing. Clearly, Trump is committed to his “America First” policy.
