President Donald Trump on Saturday said he would increase global tariffs to 15% from 10%, one day after the Supreme Court struck down his “reciprocal” tariffs.
The new tariffs will be “effective immediately,” Trump said in a Truth Social post.
“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 U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,” he wrote.
In his social media post, Trump also warned that additional tariffs would follow.
“During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs,” he wrote.
While Trump’s announcement claimed that the new tariffs will take effect without delay, it is unclear if any official documents have been signed detailing the timing. A White House fact sheet issued Friday said the original 10% tariffs would go into effect on Tuesday, Feb. 24, at 12:01 a.m. ET.
The White House did not immediately respond to a CNBC request for comment.
Trump is scheduled to deliver his State of the Union address to Congress on Tuesday.
The duty increase comes after the Supreme Court, on Friday, in a 6-3 tariff ruling, decided that Trump wrongfully invoked the International Emergency Economic Powers Act (IEEPA) to implement his levies.
Trump responded the same day with a 10% global tariff that he invoked under other trade powers. Section 122 of the Trade Act of 1974 allows the president to implement only temporary levies, with any extension requiring congressional approval.
The president was scathing in his remarks against the Supreme Court decision, calling it in his social media post that it was “ridiculous, poorly written, and extraordinarily anti-American.”
He also attacked Justices Neil Gorsuch and Amy Coney Barrett after they voted with the majority in the ruling.
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