U.S. President Donald Trump announced a significant increase in global tariffs from the previously set 10% to the legal maximum of 15%. This declaration came through a post on his social media platform, Truth Social, where he criticized a recent Supreme Court ruling that limited the scope of tariffs he could impose. He framed the tariff increase as a necessary measure to punish countries that he claims have exploited the U.S. economically for decades.

The decision follows a Supreme Court ruling that indicated Trump's broad imposition of tariffs under international emergency economic powers exceeded his presidential authority. In response, Trump shifted to invoking a different trade law, Section 122, which permits him to impose temporary tariffs of up to 15% for 150 days to address significant trade deficits. This legal maneuver allows Trump to implement the new tariffs starting from midnight on the 24th, responding to the Court's limitations while still pursuing his trade agenda.

This move is part of Trump's broader strategy to enforce his economic policies under the 'Make America Great Again' (MAGA) initiative, which seeks to revamp U.S. trade practices and assert greater economic independence from what he deems exploitative international partners. The implications of this tariff increase could reshape the dynamics of international trade and provoke retaliatory measures from affected countries, underscoring ongoing tensions in global trade relations.