United States President Donald Trump on Saturday said he was increasing global tariffs to 15% from 10%, a day after the US Supreme Court struck down most of the levies he had imposed last year.
In a social media post, Trump said that he was increasing the tariffs to the “fully allowed, and legally tested, 15% level” with immediate effect.
However, it was unclear as to when the increased tariff rate would take effect as the original 10% rate announced by the White House on Friday was to be enforced on February 24.
He further warned that additional tariffs would follow.
“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,” the US president said.
On Friday, the Supreme Court struck down global tariffs imposed by Trump, ruling in a 6:3 verdict that he had exceeded his authority. The judges said that the 1977 International Emergency Economic Powers Act that Trump had invoked “does not authorise the president to impose tariffs”.
Trump had in April imposed “reciprocal” tariffs on dozens of countries, including India, claiming high levies the countries imposed on US goods. The levies were eventually reduced once bilateral trade deals had been agreed to, including in the case of India.
On Saturday, Trump described the Supreme Court’s striking down of his tariffs as “ridiculous, poorly written and extraordinarily anti-American”.
Soon after the ruling, Trump on Friday signed a proclamation imposing a temporary 10% tariff on goods imported into the US, citing his authority under the 1974 Trade Act.
The new tariff is to take effect for a maximum of 150 days, unless the US Congress approves an extension.
This leaves the status of recent trade deals with other countries, including India, unclear.
Trump said on Friday that “nothing changes” and that the levies on India will continue. “They’ll be paying tariffs and we will not be paying tariffs,” he told reporters at the White House.
According to the framework for the deal with India, US tariffs on Indian goods were to be reduced to 18% from a combined rate of 50%. The earlier rate of 50% had included a punitive levy of 25% imposed in August over India’s purchase of Russian oil.
On Saturday, India’s commerce ministry said that it was studying developments in the US on tariffs and their implications for India.
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