United States ruler Donald Trump has raised the global tariff rate to 15%, up from 10%, just one day after the Supreme Court struck down most of his other instituted tariffs. But Trump said he’d find a way to get around the ruling.
The U.S. government would find ways to impose other “new and legally permissible tariffs” in the coming months. He had earlier promised to launch investigations into potentially unfair foreign trade practices that could lead to additional tariffs.
Trump’s Sweeping Tariffs Set To Hit Consumers Hard — From iPhones to Automobiles
On Friday, America’s highest court ruled that the 1977 International Emergency Economic Powers Act (IEEPA) does not give Trump the authority to impose what he described as reciprocal tariffs on almost every country. The president responded by immediately introducing another global 10% tariff under separate legislation, using the Trade Act of 1974. –RT
One day later, on Saturday, Trump said he would increase the global tariff rate to the “fully allowed and legally tested 15% level.” He has also denounced the court’s decision as “ridiculous, poorly written, and extraordinarily anti-American.”
Trump Reverses Course On European Tariffs, Saying Europe Is “Destroying” Itself
Trump has insisted on using tariffs as a form of economic warfare against several countries that disagree with his policies, or those he deems more hostile to U.S. interests.
Walmart & Target Warn Consumers Of Higher Prices Thanks To Tariffs
The 1974 law gives the president the authority to impose tariffs for 150 days, with any further extension requiring congressional approval. When asked about the matter on Friday, Trump told journalists, “We have the right to do pretty much what we want to do.”
That seems to be the sentiment of the current administration, which is not unlike that of the last ruling class. They seem to think that they are allowed to enslave and steal from anyone, any time, anywhere. But until those at the bottom wake up and realize it, we are all stuck in this doom loop of authoritarian control.
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