On February 20, President Donald Trump declared the implementation of new global tariffs set at 10%, a move that follows a significant ruling by the U.S. Supreme Court.
Trump emphasized his authority to halt trade or business with any foreign nation, stating, “In other words, I can destroy trade. I can destroy a country. I even have the right to impose an embargo that would devastate a foreign nation. I can do anything I want, but I cannot collect a single dollar.”
The announcement included plans for an executive order to establish these tariffs under Section 122 of the Trade Act, which would be in addition to existing standard tariffs. Unlike previous tariffs, these new ones could remain in effect for up to 150 days unless Congress approves their extension.
Earlier, the Supreme Court deemed the extensive tariffs previously imposed by Trump on numerous countries as unlawful. The court ruled 6-3 that the unilateral imposition of tariffs exceeded presidential powers.
Chief Justice John Roberts noted that the president requires explicit authorization from Congress for such actions, asserting that the extraordinary powers Trump sought to invoke under a 1970s law were insufficient.
President Trump has announced a new set of 10% global tariffs following a Supreme Court ruling that deemed previous tariffs illegal. This move underscores his contentious stance on trade and presidential authority.