Trump goes for more: US president announced he would raise the global tariff from 10% to 15%
US President Donald Trump would impose global tariffs of 15%. Photo: AFP
TL;DR
- President Trump announced an immediate 15% increase in global import tariffs.
- This action follows a Supreme Court ruling against his prior tariff policies.
- The new executive order is based on a law allowing tariffs up to 15% for 150 days.
- The ruling impacts global base tariffs and reciprocal tariffs with trade partners.
- Additional tariffs of 25% were previously planned for Mexico and Canada.
- Tariffs on Brazil and India were set to increase by 50% due to specific retaliatory reasons.