President Trump introduces 10% global tariff citing trade law after Supreme Court questions his original tariffs.
Supreme Court Questions Trade Policy
Friday’s Supreme Court ruling put into question the main instrument of Donald Trump’s trade policy.
Tariffs as Strategic Tools
Tariffs served Trump not only for playing foreign partners but also were supposed to lead to the rebuilding of industry.
New Tariffs Based on Trade Law
President Trump acknowledged that the ruling only strengthens him and motivates him to implement “very powerful alternatives.”
On Friday, he announced the introduction of a global base tariff of 10 percent, citing Section 122 of the trade law.
This provision allows the president to impose tariffs for up to 150 days without Congressional approval in case of “serious balance of payment deficits.”