Washington: U.S. President Donald Trump announced an increase in global tariffs from 10% to 15% following a recent Supreme Court verdict.
In a statement, Trump said he is raising the global tariffs previously imposed on several countries, citing decades of exploitation of the United States by these nations. He added that his administration will legally determine new tariffs in the coming months.
Earlier, the U.S. Supreme Court had ruled that the additional tariffs imposed on other countries were illegal, noting that the law under which they were applied was intended for national emergencies and does not authorize the president to impose extra tariffs.
Responding to the court’s decision, Trump asserted that he retains the authority to act as he sees fit, warning that the temporary satisfaction of other countries would not last.
Following the ruling, Trump had initially imposed a 10% tariff on all countries immediately, before later announcing the hike to 15%.