Tech
Trump fights back, replaces struck-down reciprocal tariffs with 10% global import tax
Hours after the Supreme Court struck down broad “reciprocal” tariffs as unlawful, President Donald Trump lashed out at justices, and said he will impose a 10% global tariff under a different trade law with more restrictions and a timetable.
President Trump introduces a global import tax. Image credit: Chip Somodevilla/Getty Images
The announcement follows a 6-3 ruling that the earlier tariffs, imposed under the International Emergency Economic Powers Act, exceeded presidential authority and required congressional approval. The now-invalidated tariffs have cost Apple about $2 billion.
Section 122 provides a narrower legal pathway, but it doesn’t soften the economic impact. The statute permits temporary tariffs of up to 15% total for 150 days unless Congress votes to extend them.
Continue Reading on AppleInsider | Discuss on our Forums