President Donald Trump signed an executive order imposing a new “temporary” 10 percent global tariff following the Supreme Court’s decision Friday striking down many of the global tariffs he raised last year.
“It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately. Thank you for your attention to this matter!,” Trump wrote on Truth Social.
Trump is invoking Section 122 of the Trade Act of 1974, which allows the president to impose tariffs of up to 15 percent to address a “large and serious balance-of-payments deficit,” according to a White House fact sheet. Tariffs imposed under the authority may remain in effect for no more than 150 days unless Congress passes legislation extending them.
The Supreme Court, in a 6-3 decision, rejected the administration’s authority to implement tariffs under the International Emergency Economic Powers Act.
