Trump Imposes Global Tariff on All Imports
In a message shared on his Truth Social account, Trump confirmed the action, stating: “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," Trump wrote on his Truth Social platform.
The announcement follows a ruling by the Supreme Court of the United States that invalidated most of the tariffs previously introduced under his administration. According to reports, the court determined in a 6-3 decision that the president had overstepped his legal authority by invoking emergency powers to justify broad trade penalties.
The justices concluded that the law cited by Trump was intended for national emergencies and could not be used to implement extensive tariff measures in the way his administration had done.
Reacting strongly to the judgment, Trump criticized the ruling in another online statement. He described it as “ridiculous” and signaled that his administration would explore alternative avenues to boost federal income.
"Those members of the Supreme Court who voted against our very acceptable and proper method of tariffs should be ashamed of themselves.
"Their decision was ridiculous but, now the adjustment process begins, and we will do everything possible to take in even more money than we were taking in before!" he added.
Despite the court’s decision, the president’s latest move suggests he remains committed to reshaping US trade policy and increasing tariff-based revenue through new mechanisms.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.