US President Donald Trump has announced a 10% global tariff on “all countries” after the Supreme Court struck down his reciprocal levies policy.
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.
But he doubled down on imposing levies following the decision, claiming the court “has been swayed by foreign interests” and other countries were “dancing in the streets, but they won’t be dancing for long, that I can assure you”.
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 earlier, 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.
