Donald Trump Would Be Prepared to Impose 15% Tariffs This Week
President of the United States, Donald Trump. Photo: AFP
TL;DR
- A 15% general tariff on US imports is expected to be implemented this week.
- This move follows a Supreme Court decision that deemed many of Trump's previous tariffs illegal.
- The tariffs will be enacted under Section 122 of the Trade Act of 1974, limiting their duration to 150 days unless extended by Congress.
- The administration will use this period to conclude investigations related to national security and unfair trade.
- These investigations may result in new tariff packages.
- Existing sectoral tariffs, such as those on steel and automobiles, are unaffected.