Trump Raises Global Tariff Rate to 15% After Supreme Court Ruling
The court ruled Friday that the president's sweeping IEEPA tariffs were illegal.
What to Know
President Donald Trump is instituting a 15% global tariff rate on imports coming into the U.S. The rate is higher than the 10% baseline rate announced Friday after the Supreme Court ruled against the tariffs that Trump imposed under the International Emergency Economic Powers Act. Those levies, seen as critical to his economic agenda, had been knocked down by a lower court.
The White House has said that the 15% tariff rate is temporary, and that the administration plans to use different legal authorities to continue the president’s tariff regime. Until then, trade deals struck with other countries in response to the IEEPA tariffs are essentially nullified.
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