Trump raises Tariffs to 15%!
Washington, Feb 21 (EFE).-
United States President Donald Trump announced on Saturday that he will raise the new import tariff on all countries to 15% surpassing his previous 10% announcement. This comes after the Supreme Court ruled against his previous tariff policy.
The president made the announcement in a post on the Truth Social platform, where he stated the increase would be “immediate.”
“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,” informed the president.
Trump went on to condemn, once again, the “ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs” issued on Friday by the US Supreme Court, and added that, in the months to follow, his administration “will determine and issue the new and legally permissible Tariffs.”
The Supreme Court ruling issued Friday impacts the base global tariff on foreign imports and the so-called “reciprocal” levies on the world’s largest economy’s trading partners. It also impacts the additional 25% tariffs on Mexico and Canada.
Also included are the Republican’s decisions to increase tariffs up to 50% on Brazil and India, respectively, in retaliation for the prosecution of his ally, former Brazilian president Jair Bolsonaro, and the purchase of Russian crude oil.
Before signing the new law, Trump had openly criticized the Supreme Court’s actions during an impromptu press conference at the White House.
However, the law the president used in his new tariff executive order only allows for increasing the levies up to 15% and in periods of 150 days, so it is unclear how it will be implemented long-term. EFE
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