On Friday, President Donald Trump announced a new executive order that will implement a 10 percent global tariff, applicable to foreign products entering the U.S. market. This decision came shortly after the Supreme Court of the United States overturned several tariffs that had been previously established, prompting the administration's strategic move to secure revenue through these new tariffs. Trump's statement emphasized the immediacy of the tariff's implementation, with a launch date set for February 24 at 12:01 a.m. Washington time.

Crucially, the new tariff does not apply to products that meet the regulations outlined in the US-Mexico-Canada Agreement (T-MEC). This exemption is likely intended to mitigate any negative impacts on trade relations with Mexico and Canada, both key trading partners whose economies rely heavily on this agreement. Trump thanked supporters on social media for their attention to this new measure, framing it as a significant achievement for his administration amid recent legal challenges regarding trade policies.

The implications of this global tariff could be significant, affecting a wide range of industries and international trade dynamics. As it stands, the announcement reflects a continued push by the Trump administration to use tariffs as a mechanism for influencing trade behavior globally, while still maintaining favorable terms for alliance partners under the T-MEC. Observers will be closely watching how these tariffs will impact existing trade agreements and global market reactions in the coming weeks.