Trump says he is raising global trade tariffs to 15% following 'anti-American' Supreme Court ruling
The US President blasted the Supreme Court's ruling overturning his reciprocal tariffs as "ridiculous, poorly written, and extraordinarily anti-American" as he announced his second hike in a matter of hours.
US President Donald Trump has announced a 15 percent hike to global tariffs just hours after announcing a 10 percent rise following a devastating ruling from the Supreme Court.
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Mr Trump’s “reciprocal tariffs” imposed on most of the rest of the world last April under an emergency powers law were overturned by the US Supreme Court on Friday in a major blow to the president’s economic agenda.
On Saturday afternoon, the president blasted the ruling as "extraordinarily anti-American" and announced a 15 percent hike to global tariffs, doubling down on imposing levies for a second time in hours.
The tariffs are set to come into force on Tuesday 24 February but can only last around five months, before which time the administration must seek the approval of Congress.
Mr Trump wrote on Truth Social: "Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been “ripping” the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level.
"During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of Making America Great Again - GREATER THAN EVER BEFORE!!! Thank you for your attention to this matter. President DONALD J. TRUMP."
Read more: Supreme Court ruling does not signal the end for Trump’s tariffs, experts warn
Read more: Trump brands Supreme Court's ruling a 'disgrace' after blocking global tariffs
Earlier, Mr Trump had announced a 10 percent rise in repsonse to the Supreme Court's decision.
Following the ruling, he signed a proclamation imposing a temporary 10 per cent duty on imports under section 122 of the Trade Act of 1974.
This lets the president set import restrictions for up to 150 days.
It was one of the alternative measures he said he would impose after the Supreme Court ruled he had exceeded his authority by using the International Emergency Economic Powers Act to slap tariffs on dozens of countries.
Posting on Truth Social shortly before midnight UK time, Mr Trump said: “It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately. Thank you for your attention to this matter! PRESIDENT DONALD J. TRUMP”
He later added in a follow-up post criticising the Supreme Court Justices who ruled against his levies: “Their decision was ridiculous but, now the adjustment process begins, and we will do everything possible to take in even more money than we were taking in before!”
Speaking at the White House, Mr Trump said the Supreme Court decision affirmed his ability to charge more tariffs under different statutes.
He said: “In order to protect our country, a president can actually charge more tariffs than I was charging in the past… period of a year.
“Under the various tariffs authorities, so we can use other of the statutes, other of the tariff authorities, which have also been confirmed and are fully allowed.
“Therefore, effective immediately, all national security tariffs under Section 232 and existing Section 301 tariffs, they’re existing, they’re there, remain in place, fully in place. And in full force.
“Today I will sign an order to impose a 10% global tariff under Section 122, over and above our normal tariffs already being charged.
“And we’re also initiating several Section 301 and other investigations to protect our country from unfair trading practises of other countries and companies.”
In the UK, ministers said they expected the country’s “privileged trading position with the US” to continue after the Supreme Court’s ruling.
The UK received the lowest tariff rate of 10%, and a subsequent deal struck by Sir Keir Starmer and Mr Trump saw further carve-outs for Britain’s steel industry and car manufacturers.
Friday’s decision raises questions over whether those deals still stand, although officials are understood to believe it will not impact on most of the UK’s trade with America, including preferential deals on steel, cars and pharmaceuticals.
A Government spokesperson said: “This is a matter for the US to determine but we will continue to support UK businesses as further details are announced.
“Under any scenario, we expect our privileged trading position with the US to continue and will work with the administration to understand how the ruling will affect tariffs for the UK and the rest of the world.”
It was an updated version of a statement released earlier in response to the court ruling, but removed a reference to the UK enjoying “the lowest reciprocal tariffs globally”.
Liberal Democrats leader Sir Ed Davey has insisted the UK Government should sue US President Donald Trump for 100 billion dollars for the damage caused to the UK by trade tariffs.
The Lib Dem branded Mr Trump the “most dangerous, damaging US president of modern times” as he welcomed a “brilliant” decision by the US Supreme Court on Friday, which struck down trade tariffs imposed by the president last April.
In the wake of that decision, Sir Ed said that the UK Government should now take legal action against the White House.
Speaking to LBC, the Liberal Democrat said: "Well, I would urge Keir Starmer to change the position he's taken with Donald Trump, to stand up for him.
"Frankly, I think we should sue Donald Trump for the damage he's caused to our country.
"And we should go further than that. We should do what Liberal Democrats have been arguing for some time, really develop other trade options for our businesses.
"If you listen to many people and businesses who've exported to the US, they no longer trust that economy. It's too uncertain.
"And they want to be able to trade more with Europe, for example. And that's why our proposal for a new EU- UK customs union is so important."
Mr Trump said that some trade deals negotiated after he imposed his reciprocal tariffs will no longer be valid after the US Supreme Court ruling.
“Some of them stand. Many of them stand. Some of them won’t, and they’ll be replaced with the other tariffs,” he said.
The US president said the 10% “global tariff” would be in place for around five months.
“We’re going straight ahead with 10% straight across the board… and then during that period of about five months, we are doing the various investigations necessary to put fair tariffs, or tariffs period, on other countries.
“So we’re doing that, period, but we’re immediately instituting the 10% provision, which we’re allowed to do. And in the end, I think we’re taking more money than we’ve taken in before.”
The US has collected more than 133 billion dollars (£98.4 billion) since Mr Trump imposed the tariffs, but now faces the prospect of having to refund that money to importers.
Friday’s decision, approved by a 6-3 majority, found that a 1977 law did not give Mr Trump the power to impose tariffs without the approval of the US Congress.