Former U.S. President Trump announced he will raise the previously declared 10 percent tariff on imports to the United States to 15 percent. He made the announcement on Truth Social, a move that is creating global uncertainty.
In a post on his platform Truth Social, former U.S. President Trump stated he would increase the announced global tariff from 10 to 15 percent.
Trump further wrote that he reached this decision after a “thorough, detailed, and complete” review of the Supreme Court ruling regarding his trade policy.
The U.S. Supreme Court recently declared a portion of the tariffs imposed by Trump as unlawful, given that the U.S. Government relied on an emergency law to justify them. The justices ruled this was not a valid legal basis for the tariffs. Trump had argued the tariffs were crucial for the economic security of the U.S. – a claim the court rejected.
Trump’s New Legal Basis for Tariffs
Trump described the Supreme Court’s decision as “extremely anti-American” in his Truth Social post. He stated the increase in import tariffs to 15 percent is “fully allowed and legally vetted.”
According to the White House, the basis for the new tariffs, initially at 10 percent and now 15 percent, is a trade law from 1974. This law allows for the imposition of tariffs on imports for up to 150 days. For a longer period, still, Trump would need the approval of the U.S. Congress.
Experts question whether the necessary prerequisites for using this legal basis for the temporary tariffs are actually met.
Tariff Policy Creates Uncertainty
The 10 percent tariff announced yesterday was scheduled to take effect next Tuesday. Trump stated today’s increase would be effective “immediately,” but it remains unclear how it will be implemented.
No official reactions to the announced tariff increase have been released yet. Following the court ruling and the initial tariff announcement yesterday, many countries indicated they needed time to assess the new situation. German Finance Minister Lars Klingbeil told the Frankfurter Allgemeine Zeitung of a continuing uncertainty. Representatives of business associations as well expressed caution.
The Chairman of the Trade Committee in the EU Parliament, Bernd Lange, said the basis for the trade deal between the EU and the U.S. Was now lacking. He announced a special session of the negotiating team for the agreement with the U.S. And the legal service of the EU Parliament for Monday.
