According to breaking news, Trump has announced a 10% global tariff on all countries. He stated that this 10% tariff will be added on top of other tariffs already in effect.
Trump said he would invoke Section 122 of the 1974 Trade Act, which allows the president to impose temporary import restrictions for up to six months.
Following the decision, Trump cited the Trade Expansion Act and the 1974 Trade Act, arguing that these legal frameworks gave him a stronger scope for action. Claiming that the Supreme Court’s decision did not weaken his tariff authority but rather “strengthened it,” Trump asserted that the US would see an increase in tariff revenue.
The statements came after the customs duty measure was overturned by the Supreme Court.
Trump said the 10% global tariffs would be in place for approximately five months. Responding to a question about whether the US would have to repay the tariff revenues it collected, Trump stated that this “needs to be clarified in the judicial process.”
Trump said, regarding the results obtained from the tariffs, “We will continue in the same way.” Arguing that he did not need congressional approval for additional measures, Trump stated, “I don’t need to ask Congress about the tariffs. It’s already approved.”
It also announced it would launch new investigations under Section 301 to protect the United States.
Trump said the Supreme Court “should have announced its decision much earlier” and argued that the decision removed all uncertainty. “Now there is certainty,” Trump said, claiming that the US would become even stronger as a result of this ruling.
On the other hand, Trump claimed that foreign interests had “too much influence” on the Supreme Court.
Stating that he will maintain the current tariff policy, Trump threatened to impose new tariffs on the automobile sector that could range from 15% to 30%.
Trump said the 10% global tariffs would be in effect for approximately five months. Responding to a question about whether the US would have to repay the tariff revenues it collected, Trump stated that this “needs to be clarified in the judicial process.”
Pointing to a lengthy legal process regarding tariff refunds, Trump said, “We could be in court for the next five years.” The statement signaled that a comprehensive legal battle could begin over the return of revenue generated from tariffs.
*This is not investment advice.