Blitz Bureau
NEW DELHI: US President Donald Trump raised a newly imposed global tariff to 15 per cent, invoking Section 122 of the Trade Act of 1974 as reported by The Wall Street Journal, a move that escalates his trade offensive a day after the US Supreme Court struck down much of his earlier tariff regime. In a post on Truth Social, Trump said the increase followed a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday by the Supreme Court.
“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,” he wrote. 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!!!” he added.
According to a Wall Street Journal report, the 15 per cent levy is being imposed under Section 122 of the Trade Act of 1974, a provision that allows the president to impose tariffs of up to 15 per cent for 150 days unless Congress approves an extension.
