As you know, in February the US Supreme Court overturned President Donald Trump’s tariffs.
However, Donald Trump strongly opposed this decision, and shortly afterward signed an order raising tariffs to 15%.
In his statements, Trump argued that the US Supreme Court’s decision regarding tariffs could pave the way for large sums of money to be refunded to countries and companies that he claims have been “exploiting” the US for years.
While the court ruling doesn’t change anything for Trump, the US administration aims to raise global tariffs from 10% to 15%.
At this point, the US is expected to implement its plan this week to raise global tariffs from 10% to 15%.
The new 15% rate will be implemented as a temporary measure to replace the cancelled taxes.
Speaking to CNBC, US Treasury Secretary Scott Bessent announced that the new 15 percent global tariff is expected to go into effect this week.
Bessent said, “The current customs tariff enforcement authority only lasts for 150 days. During this period, trade authorities will examine other legal grounds for reinstating the current customs tariff regime.”
*This is not investment advice.