Fuming over a Supreme Court decision, U.S. President Donald Trump has retaliated by executive order, slapping a universal 10% tariff on every country’s goods entering America – implementation nearly instant.
The backstory: Trump’s post-reelection push for bespoke tariffs on trading partners was halted when justices invalidated IEEPA’s use for such measures. Switching gears seamlessly, he invoked Section 122 for this across-the-board duty.
In a presser laced with sarcasm, Trump mocked the ruling: ‘They let me ban trade, kick countries out – but no dollar charge? Think about that absurdity.’ He boasted on Truth Social about the Oval Office signing, calling it an ‘honor’ with immediate effect.
Targeting deal-makers like India, Britain, the EU, and Japan, the White House deems this a stopgap. An official stated: ‘Post-ruling, we’re using Section 122 for 10% global tariffs on those nations. Temporary, as we align permanent rates elsewhere.’ Expectations remain for compliance with prior trade concessions.
This dramatic policy pivot highlights Trump’s unyielding trade reform agenda, born from perceived imbalances. While he emphasizes cost savings for America, opponents predict global backlash, elevated prices, and economic ripples. As the dust settles, watch for diplomatic frenzy and market volatility.