"What they're saying: In a post on Truth Social, Trump said that he would be raising the 10% global tariff to the "fully allowed, and legally tested, 15% level." The big picture: In a 6-3 decision, the Supreme Court said on Friday that Trump could not implement tariffs under the International Emergency Economic Powers Act. Hours later, the administration said it would reinstate 10% tariffs on all foreign goods under a provision of a separate trade law, Section 122."
"Those tariffs were set to take effect next week. The trade provision says that a president can apply tariffs of up to 15% to address "large and serious" balance of payments issues for up to 150 days. After that, Congress would need to act to allow the tariffs to continue. The bottom line: Trump acted fast to reimpose the tariffs the Supreme Court smacked down. Now he's moving to make them as harsh as the law allows - and more are likely to follow."
The Supreme Court ruled 6-3 that tariffs could not be imposed under the International Emergency Economic Powers Act (IEEPA). The administration quickly reinstated 10% tariffs on all foreign goods using a separate trade authority that allows short-term tariffs to address balance-of-payments problems, with the tariffs set to take effect next week. That authority permits tariffs up to 15% for up to 150 days, after which congressional approval is required to continue them. Plans are underway to raise the 10% global tariff to the legally permitted 15% maximum and to issue additional tariffs as legally permissible in the coming months.
Read at Axios
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