U.S. President Donald Trump announced plans to increase the newly imposed 10% tariffs to 15% on various countries, claiming they have been exploiting the U.S. for decades.
In a recently posted message on his social media platform Truth Social, U.S. President Donald Trump stated his intention to raise the previously announced 10% global tariffs to 15%. He asserted that many countries have been 'robbing' the United States for decades without any countermeasures until his administration took action. Trump emphasized that this increase is legally justified and part of his broader agenda to 'make America great again.'
Trump's announcement comes on the heels of a decision by the U.S. Supreme Court, which ruled that the President cannot arbitrarily impose tariffs under the guise of emergency legislation. This ruling has been described as a significant setback for Trump's administration, which has used tariffs as a pivotal tool in both economic and foreign policy strategies. The Supreme Court's decision underscores the checks and balances inherent in the U.S. government, highlighting that trade policies must adhere to established legal frameworks.
With plans to announce new tariffs in the coming months, the implications of Trump’s directive could affect international trade relations, particularly with countries targeted by the increased tariffs. The move may escalate tensions further in an already fraught global economic landscape, wherein tariffs have become a contentious point of debate among trading nations, potentially leading to retaliatory measures.
