Global trade under attack: Donald Trump introduces universal 10% tariff
21 February 14:19
US President Donald Trump has signed an executive order imposing a global 10% tariff on all countries.
This was reported by "Komersant Ukrainian" with reference to the White House website and Trump’s post on his own social network, Truth Social.
“I am honored to have just signed a global 10% tariff for all countries in the Oval Office, which will take effect almost immediately,” Trump wrote.
According to the US president’s administration, the new tariffs will take effect on Tuesday, February 24.
“Tariffs will continue to be a critical tool in President Trump’s arsenal to protect American businesses and workers, bring back domestic manufacturing, lower costs, and raise wages,” the White House said.
The document extends exemptions for aerospace products, passenger cars and certain light trucks, goods from Mexico and Canada that meet the terms of those countries’ trade agreements with the US, pharmaceuticals, and certain essential minerals and agricultural products.
The new executive orders prohibit the imposition of tariffs that the Supreme Court ruled illegal on February 20. But Trump’s team is not abandoning these global tariffs.
Trump’s tariffs
Recall that the US Supreme Court ruled that the large-scale tariffs imposed by President Donald Trump against most countries in the world were illegal. The judges ruled by a majority vote that the unilateral imposition of tariffs exceeded the president’s powers.
Chief Justice John Roberts emphasized that the president must have clear authorization from Congress for such actions, and that reference to the International Emergency Economic Powers Act of the 1970s is insufficient in this context.
Trump called the Supreme Court’s decision to overturn his tariffs “a disgrace” during a White House breakfast with governors.
According to CNN, the US president said he had a “backup plan.”
