Donald Trump has announced that he's planning to increase the global tariff rate just a day after the Supreme Court banned his signature tariff policy.
The Supreme Court ruled 6–3 that the US president's earlier tariff program was unlawful, not because tariffs are illegal, but because he relied on an economic emergency law to impose broad tariffs.
However, taking to Truth Social on Saturday (21 February), the 79-year-old said he will still increase tariffs on imports from all countries to 15 percent.
Trump has invoked Section 122 of the Trade Act of 1974, allowing him to impose tariffs up to 15 percent to address a 'large and serious balance-of-payment deficit'.
Advert
He is the first president ever to invoke the act, which can legally be in place for a maximum of 150 days without congressional approval.
What has Trump said?
In a lengthy post, he wrote: "Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, will be, effective immediately, raising the 10 percent Worldwide Tariff on Countries.
It continued: "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 percent level.
"During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of Making America Great Again.
"GREATER THAN EVER BEFORE!!!" he added.
"Thank you for your attention to this matter."
Trump on the court's decision
The court's decision was from three conservative justices and three liberals on the panel - two of whom were appointed by Trump himself.
It perhaps shows that the court is acting independently rather than politically.
"I'm allowed to destroy the country, but I can't charge them a little fee," he complained in the press briefing room on Friday.
"I can do anything I want to do to them, but I can't charge any money.
"The Supreme Court's ruling on tariffs is deeply disappointing and I'm ashamed of certain members of the Court," Trump added.
"Absolutely ashamed for not having the courage to do what's right for our country.
"It's my opinion that the court has been swayed by foreign interests and a political movement that is far smaller than people would ever think."
Topics: Donald Trump, US News, Politics
Anish Vij