Trump announces new 10% global tariffs: how they will work
Kyiv • UNN
The US President added that all national security tariffs "will remain in effect immediately."
US President Donald Trump detailed how he intends to maintain tariffs despite the Supreme Court's decision. In addition, the American leader announced the signing of an order to introduce a 10% global tariff in addition to the usual tariffs already levied, UNN reports with reference to Sky News.
"I don't need to ask Congress to impose tariffs," he says.
Trump adds that all national security tariffs "will remain in effect immediately."
"Fully in force and effect," he says.
"Today I will sign an order to impose a 10% global tariff under Section 122 in addition to our usual tariffs already levied."
The publication notes that Section 122 allows the president to temporarily impose a "temporary import surcharge" of up to 15% if he finds a "large and serious" balance of payments deficit to prevent an "imminent" and "significant" depreciation of the US dollar in foreign exchange markets.
He says this is in addition to "all national security tariffs under Section 232 and existing Section 301 tariffs."
"And we are also initiating several Section 301 and other investigations to protect our country from unfair trade practices by other countries and companies."
Recall
The US Supreme Court overturned President Donald Trump's far-reaching global tariffs. The decision was made by a majority vote (6 to 3) and concerns tariffs imposed by Trump under emergency powers law.