Trump: Global import tariffs to be raised from 10% to 15%

US President Donald Trump announced on social media on March 21 that the “global import tariffs” he had announced the previous day would be raised from 10% to 15%, “effective immediately.” Trump stated that, based on a review of the US Supreme Court’s ruling, the tariffs on “tariffs on multiple countries around the world” would be immediately increased from 10% to 15%. He added that the US government would determine and enact new “legal tariffs” in the coming months. The US Supreme Court ruled on March 20 that the International Emergency Economic Powers Act (IEEPA) did not authorize the president to impose large-scale tariffs. This represents a major setback for the Trump administration’s tariff policy. Later that day, Trump signed an executive order confirming the termination of the tariff measures previously invoked under the IEPA. Also on March 20, following the Supreme Court’s ruling, Trump announced that, pursuant to Section 122 of the Trade Act of 1974, a 10% global import tariff would be imposed for 150 days to replace the tariffs deemed illegal by the Supreme Court. According to US media reports, this provision, which has never been invoked before, allows the government to impose tariffs of up to 15% for a maximum period of 150 days in cases of trade imbalances with other countries, unless Congress approves an extension. Trump also stated that all tariffs imposed by the US on “national security” grounds, as well as tariffs imposed under Section 232 of the Trade Expansion Act of 1962 and Section 301 of the Trade Act of 1974, will remain in effect. US Trade Representative Jamison Greer, in an interview with Fox News on the 20th, stated that existing trade agreements with other countries must be upheld, even if those agreements stipulate higher tariff rates. He cited as an example that tariffs on goods imported from Malaysia and Cambodia will remain at 19%.