Trump announces hike in US global tariff rate from 10 to 15pc

WASHINGTON : US President Donald Trump on Saturday said he was raising the worldwide tariffs on goods entering the United States from 10% to 15% “effective immediately,” a day after the Supreme Court largely struck down his sweeping duties.

Trump said on his Truth Social platform that after a thorough review of Friday’s “extraordinarily anti-American decision” by the court to rein in his tariff programme, the administration was hiking the import levies “to the fully allowed, and legally tested, 15% level.”

“I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been ‘ripping’ the US off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,” he wrote in a Truth Social post.

“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,” he added.

Trump’s announcement of raising the tariffs to 15% comes hours after his post in which he said he was undeterred by what he repeatedly called a “ridiculous ruling” by the US court.

The US president had also announced an immediate new 10% tariff on imports from all countries, on top of any existing tariffs, and then issued a proclamation putting them into effect.

The law allows him to impose a levy of up to 15% for 150 days, although it could face legal challenges.