D. Trump recently declared a global 10% tariff on all countries, a move that he stated would take effect almost immediately. This announcement came shortly after he had issued a warning about such a step, emphasizing that this new tariff would be in addition to existing tariffs already in place. Trump referenced the authority granted to him under Section 122 of the Trade Act of 1974, which allows the president to implement temporary trade measures to address payment balance issues.

The timing of this announcement is significant, as it follows a major ruling by the Supreme Court that dealt a serious blow to Trump's previous tariff agenda. The Court had recently overturned substantial tariffs that Trump had implemented for specific countries last April, which were part of his broader protectionist strategy. This development raises questions about the sustainability of Trump's trade policies and their potential impact on relationships with global trading partners.

Trump’s decision to impose a fresh tariff may suggest an attempt to reassert control over trade policy amidst judicial pushback. As countries brace for the implications of these tariffs, there are concerns regarding their potential economic impact and the possibility of retaliatory measures from affected nations, which could initiate a new phase of trade tensions on the global stage.