On the 24th, a White House official confirmed that they are working on increasing the global tariff rate from 10% to 15%. This decision is in line with President Trump's earlier announcements regarding tariffs. However, the official did not provide specific timelines for when this increase would take effect. The announcement comes after the recent Supreme Court decision, which ruled that the authority to impose certain tariffs, including mutual tariffs and the so-called 'fentanyl tariff,' was not granted to the president under the International Emergency Economic Powers Act (IEEPA).

President Trump had already issued a proclamation setting a 10% tariff, which took effect for most exports to the U.S. on the 24th at 12:01 AM EDT, excluding some specific items. The U.S. Customs and Border Protection (CBP) can only collect tariffs based on the rates specified in the official proclamations. Thus, a separate proclamation or executive order will be needed to raise the tariff rate to 15%. Currently, the 10% rate is in effect, but it is highly likely that it may increase to 15% soon.

The implications of this tariff increase could affect international trade dynamics, especially considering the U.S. reliance on imports from various countries. The administration's emphasis on raising tariffs aligns with a more protectionist trade policy, potentially impacting U.S. relations with trade partners and global market stability in the near future. This situation, coupled with the Supreme Court ruling, highlights ongoing tensions in U.S. trade policy and governance.