US President Donald Trump says he will impose a new 15 per cent global tariff after the US Supreme Court struck down his sweeping emergency duties on Friday.
Posting on Truth Social on Saturday, Mr Trump called the Supreme Court’s decision “anti-American” and labelled it “ridiculous”.
His post stated that he would raise the 10 per cent worldwide tariff to the "fully allowed, and legally tested 15 per cent" maximum threshold, which will come into effect on Tuesday.
"During the next short number of months, the Trump administration will determine and issue the new and legally permissible tariffs,” he wrote.
The term "fully allowed" relates to the legal framework that allows Mr Trump to impose a 15 per cent tariff for 150 days, under Section 122 law, which is part of the 1974 Trade Act. At the end of that period the blanket tariff would need US congressional approval to be extended.
In the Supreme Court's 6-3 ruling on Friday, which triggered Mr Trump's strong rebuke and reaction, it said he did not have the power to impose tariffs under the International Emergency Economic Powers Act, which grants the President the ability to regulate economic transactions upon declaring a national emergency.
Mr Trump repeatedly invoked IEEPA powers last year to raise or impose tariffs.
Chief Justice John Roberts wrote in the court's majority opinion report that since the IEEPA's inception half a century ago, no president had invoked the statute to "impose any tariffs, let alone tariffs of this magnitude and scope."
The US president called the Supreme Court a “disgrace” during a White House press conference on Friday and vowed to explore other avenues to impose duties on the country's trading partners.
“The good news is that there are methods, practices, statutes and authorities as recognised by the entire court in this terrible decision … that are even stronger to me than the IEEPA tariffs,” he said, hinting at what was announced on Saturday.
