President Trump said Saturday he’s going to bump his newly imposed global tariff to 15%, in the wake of the Supreme Court decision blocking his sweeping import taxes on international trading partners.
The increase was “based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court,” Trump wrote on his Truth Social.
“During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of Making America Great Again – GREATER THAN EVER BEFORE!!!” he wrote.
Trump announced 10% global tariffs Friday after the Supreme Court’s 6-3 decision that the president had exceeded his authority under the International Emergency Economic Powers Act of 1977, which allows presidents to regulate commerce during national emergencies, to impose tariffs to address trade imbalances and halt fentanyl smuggling.
Trump had previously said he was “ashamed” of three conservative Supreme Court justices who ruled against him, and now plans to rely on a different legal provision known as Section 122, under the Trade Act of 1974.
The legal avenue is fast, but it’s also temporary.
Trump’s executive order cited Section 122 of the 1974 Trade Act, which allows for tariffs up to 15 % for a maximum of 150 days to address “large and serious” trade deficits.
The president is “already on shaky ground,” claimed Andrew Hale, a trade expert at the think tank Advancing American Freedom, which is affiliated with former Vice President Mike Pence.
He said the law only applies when there are “large and serious US balance of payments deficits under a fixed rate system,” but the world “abandoned the fixed rate exchange rate system in the 1970s.”
Trump also said he would use other authorities to reimpose tariffs, but these take more time and require official investigations before taking effect.
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