US Global Tariff Increased to 15% Following Supreme Court Ruling

US President Donald Trump has increased global tariffs from 10 to 15 percent, effective immediately. This move comes as businesses and governments worldwide seek repayment for an estimated $133 billion in tariffs already collected by the US government.

The Supreme Court ruled on Friday that it was unconstitutional for Trump to unilaterally set and change tariffs without congressional approval. The court’s decision, made by a six-to-three vote, struck down tariffs imposed on nearly every country using an emergency powers law.

Trump announced the tariff increase in a post on his Truth Social platform, stating that the move was based on a review of the Supreme Court’s decision. He also signed an executive order to impose the 10 percent tariff, which is limited to 150 days unless extended by Congress.

The new tariffs are set under Section 122 of the Trade Act of 1974 and include exemptions for certain products, such as critical minerals, metals, and energy products. Trump stated that his administration will continue to work on issuing other permissible tariffs.

As a result of the Supreme Court’s ruling, over 1,000 lawsuits have been filed by importers in the US seeking refunds for the collected tariffs. The path forward for these claims is not straightforward, particularly for smaller firms. Foreign governments are also facing challenges as they navigate changes to existing trade deals.

The White House has confirmed that the Section 122 tariffs include exemptions for certain products, and Trump plans to continue issuing tariffs under other statutes that permit import taxes on specific products or countries based on investigations into national security or unfair trade practices.

Source: Al Jazeera