Trump raises additional tariffs from 10% to 15%

Less than a day after signing an executive order imposing an additional 10% import tariff globally, the US president further increased this rate to 15%.

"After careful and thorough review of the Supreme Court's ridiculous, careless, and anti-American ruling on import tariffs, I will raise global import tariffs from 10% to 15%, effective immediately," US President Donald Trump wrote on Truth Social on 21/2. He stated this is the maximum legally permissible and verified amount.

This escalation followed an executive order Trump signed on 20/2, which initially imposed an additional 10% import tariff. This initial tariff was set to take effect from 00:01 on 24/2 (US time) for 150 days. The move was a direct response to a US Supreme Court ruling on the same day, which rejected his import tax policy based on the International Emergency Economic Powers Act (IEEPA).

Trump invoked the additional tariffs under the authority of Section 122 of the Trade Act of 1974. This act allows the president to impose tariffs up to 15% for a maximum of 150 days to address a "large and serious balance of payments deficit" in the US. Unlike many other acts the president could cite, Section 122 does not require prior investigation, enabling the immediate imposition of new tariffs on imports. After 150 days, any extension of the tariffs requires congressional approval.

The US president also announced that in the coming months, his administration would identify and announce new legal import tariffs to continue the process of "making America great again".