President Donald Trump announced Saturday he is raising a global U.S. import tariff to 15% after a ruling this week by the Supreme Court. Greg Norman-Diamond for Fox Business:
Trump’s increase of the global import tariff from 10% to 15% represents a continued push to address perceived trade imbalances, using authority under Section 122 of the Trade Act of 1974 following the Supreme Court’s recent ruling limiting other tariff powers. The move applies broadly to imports from most countries, though certain exemptions exist for key goods, and remains temporary (up to 150 days) unless extended by Congress. There are multiple potential avenues for continuing or replacing the Section 122 tariffs after their 150-day limit (ending around late July 2026), as Congress is unlikely to extend them due to political opposition and procedural hurdles. The Trump administration views the current 15% global tariff as a temporary “bridge” to allow time for launching investigations and imposing more durable tariffs under other authorities, primarily: • Section 301 of the Trade Act of 1974, which targets unfair trade practices (e.g., intellectual property theft or discriminatory policies) and has been used extensively in the past for country- or sector-specific duties after investigations by the U.S. Trade Representative. • Section 232 of the Trade Expansion Act of 1962, for national security-based tariffs (already applied to items like steel, aluminum, and potentially autos), which could be expanded or adjusted following reviews. Trump has stated that during the coming months, the administration will “determine and issue the new and legally permissible Tariffs,” with Treasury Secretary Scott Bessent describing Section 122 as a short-term measure to maintain revenue while studies under Sections 301 and 232 proceed. There are several theoretical workarounds, like letting the tariffs lapse and re-declaring a new balance-of-payments “emergency” under Section 122 to restart the clock. This could face legal challenges, but, importantly, isn’t explicitly prohibited by the statute. Support MacDailyNews at no extra cost to you by using this link to shop at Amazon. The post President Trump raises global U.S. import tariff to 15% appeared first on MacDailyNews. You're currently a free subscriber to MacDailyNews. For the full experience, upgrade your subscription.
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Monday, February 23, 2026
President Trump raises global U.S. import tariff to 15%
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