After the Supreme Court ruling, Trump opts for a substitute choice: impose a 10% global tariff
U.S. President Trump announced a 10% global tariff after the Supreme Court ruling to remedy the overturned tariff measures. According to Section 122 of the Trade Act of 1974, the existing tariffs will take full effect. The Supreme Court ruled that some of the Trump administration's tariff measures lacked legal authorization. Market risk warning, investment should be cautious
After most tariffs were "red-carded" by the U.S. Supreme Court last year, President Trump quickly took remedial measures to "patch" the tariff barriers he had planned.
On the afternoon of the 20th, Eastern Time, during the U.S. stock market's midday session, Trump announced at a press conference that he would impose a 10% global tariff based on Section 122 of the Trade Act of 1974, in addition to the tariffs already in place. All national security-related tariffs imposed under Section 232 of the Trade Expansion Act of 1962 and the existing Section 301 of the Trade Act of 1974 are fully effective.
Earlier on Friday, the U.S. Supreme Court's ruling overturned most of the tariff measures implemented during Trump's second presidential term, including the so-called reciprocal tariffs and "fentanyl tariffs."
According to CCTV News, on the 20th local time, the U.S. Supreme Court ruled that the large-scale tariff measures implemented by the Trump administration under the International Emergency Economic Powers Act (IEEPA) lacked clear legal authorization.
Risk Warning and Disclaimer
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