Trump hikes tariffs to 15% after court ruling, says US ripped off for decades

Donald Trump said the 150-day hike is legally permitted and that new "legally permissible" tariffs will be introduced during this period.

President Donald Trump on Saturday announced that he will raise a temporary tariff on US imports from all countries from 10% to 15%, hours after the US Supreme Court ruled against his signature tariff program based on an economic emergency law.

Infuriated by the Supreme Court’s verdict, Trump on Friday ordered an immediate 10% tariff on all imports, in addition to any existing duties. Section 122 of the Trade Act of 1974 permits the President to impose a levy of up to 15% for 150 days, although the move could face further legal challenges.

“I, as President of the United States of America, will be effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been ‘ripping’ the US off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,” he wrote in a post on Truth Social.

Announcing the revised rate, Trump said he would implement the full 15% tariff allowed under the statute. Trump said that during the 150-day period, his administration will work on issuing new and “legally permissible” tariffs.

Section 122 of the Trade Act of 1974 allows a president to impose tariffs of up to 15 per cent for a maximum of 150 days to address what the law calls large and serious United States balance-of-payments deficits, in simple terms, when imports far exceed exports.

Unlike other trade laws, Section 122 does not require lengthy investigations before tariffs take effect. That makes it a quick-response tool.