The global US tariff, previously announced by US President Donald Trump, has come into effect at a lower level than announced the day before. Instead of 15%, the rate will be 10%, at least in the first phase. This was reported by the Financial Times, according to UNN.
Details
According to the publication, the US introduced a temporary global tariff of 10% for a period of 150 days starting at 00:01 local time on Tuesday. This decision was made after the US Supreme Court ruled illegal the broad tariff restrictions that Trump had previously imposed, citing emergency powers.
After this, the White House promptly replaced the canceled tariffs with a new mechanism, but over the weekend, Trump stated on the Truth Social network that he was "immediately" raising the global rate to 15%. Despite this, the increase has not yet occurred.
The White House noted that the US President has not abandoned the idea of a 15% tariff, and it is "being worked on and will be introduced later," without specifying concrete deadlines.
According to the Financial Times, the postponement of the rate increase could give governments and businesses time to lobby for exceptions or preferential terms. The Trump administration has already provided exceptions for a wide range of goods, as well as for a significant portion of imports from Canada and Mexico.
The new tariff has caused a negative reaction among US European allies. EU countries and the United Kingdom previously concluded preferential trade agreements with Washington in exchange for lower tariffs, but now believe that the effect of these agreements is gradually being negated.
Recall
Great Britain may be the country most affected by the new US import duties due to significant exports of services and goods. A fall in the pound and an impact on the Bank of England's monetary policy are predicted.