Donald Trump
The U.S. Supreme Court ruled Feb. 20 that President Donald Trump exceeded his authority when he imposed duties on U.S. imports.
The court’s decision, in which Trump supporters have a majority, drew the ire of the president, who decided to impose a new global tariff.
Hours after the Supreme Court verdict, he announced on Truth Social that he had signed an executive order imposing duties of 10% on all countries around the world.
“I am honored [to announce] that I have just signed from the Oval Office a global 10% tariff on all countries that will go into effect almost immediately. Thank you for your attention to this issue!”, Trump wrote.
Section 122 of the Trade Act of 1974 allows the US president to impose duties of up to 15% for up to 150 days on imports from all countries without needing congressional approval.
In a press conference after the Supreme Court hearing, Trump also made it clear that the administration has no plans to reimburse companies that paid for his tariffs over the past year because the Supreme Court did not address the issue in its decision. “We’re going to end up spending five years in court,” he stated.
U.S. businesses can seek refunds in lower courts for duties already paid – and that’s nearly $150 billion.
