U.S. To Impose 10% Global Tariffs Following Supreme Court Ruling

U.S. President Donald Trump has revealed plans to impose a 10% global tariff after the Supreme Court ruled against the existing tariffs under the IEEPA. He also mentioned that the existing Trump tariffs under the Trade Expansion Act of 1962 will remain in place as they begin trade investigations in line with the Act.

U.S. To Impose 10% Global Trump Tariffs

In a Truth Social post, the U.S. president announced that he will sign an order to impose a 10% global tariff under section 122, which will take effect in three days, according to his statement during a press conference on the Supreme Court’s ruling. He stated that this global tariff will be in addition to the normal tariffs they are already charging.

Meanwhile, the U.S. president remarked that, effective immediately, all the national security tariffs, Section 232, and existing 301 tariffs under the Trade Expansion Act of 1962 remain in place and in full force and effect. The U.S. also plans to initiate several 301 and other investigations to protect the country from unfair trading practices. This announcement follows the Supreme Court’s ruling against the Trump tariffs, in which the justices held that the president lacks the authority under IEEPA to impose them.

In his post, the president noted that the Supreme Court did not overrule tariffs but merely overruled a particular use of IEEPA tariffs. Meanwhile, it is worth noting that the Section 122 tariffs have a duration of 5 months, though they can be extended with congressional approval.

The Bitcoin price remained largely unchanged following the announcement of the latest Trump tariffs. TradingView data shows that the leading crypto is currently trading at around $67,700, up on the day. Notably, BTC climbed from around $67,000 after Trump announced plans to impose a 10% global tariff.

Meanwhile, Trump suggested that it is unlikely they will refund the about $175 billion in tariff revenue despite the Supreme Court’s ruling. He noted that a refund is unlikely unless through litigation and that it could take up to 5 years to reach a resolution.