President Donald Trump announced a new global 10% tariff during Friday’s press briefing, which followed the Supreme Court’s decision to strike down his “Liberation Day” tariffs.
Trump struck a defiant tone during the press conference, promising he would continue to impose tariffs under alternative legal statutes. The president also confirmed that he would keep any tariffs that were unaffected by the Supreme Court’s decision.
“All national security tariffs under Section 232, and existing Section 301 tariffs, they’re existing. They’re there, remain in place, fully in place, and in full force and effect,” Trump said, referring to the Trade Act of 1974. “Today, I will sign an order to impose a 10% global tariff under Section 122, over and above our normal tariffs already being charged.”
Section 122 of the Trade Act of 1974 grants the president authority to impose tariffs of up to 15% and quotas on imported goods for up to 150 days unless extended by Congress. The law is intended to address large trade or currency deficits in international commerce.
The Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act, including the president’s previous 10% global tariff from “Liberation Day.” The new global tariff will replace the previous duty, marking Trump’s determination to persevere with his tariff-based economic agenda.
“I have very effectively utilized tariffs over the past year to make America great again,” the president said. “Our stock market has just recently broken 50,000 on the Dow, and simultaneously, and even more amazingly, the S&P broke 7,000, two numbers that everybody thought upon our landslide election victory could not be attained.”
The Supreme Court decision was 6-3 against the president, with the majority including Trump-appointed Supreme Court Justices Neil Gorsuch and Amy Coney Barrett.
“For those who think it is important for the Nation to impose more tariffs, I understand that today’s decision will be disappointing,” Gorsuch wrote in his concurrence with the majority. “But the deliberative nature of the legislative process is the whole point of its design. Through that process, the Nation can tap the combined wisdom of the people’s elected representatives, not just that of one faction or man.”
The Trump administration has faced bipartisan criticism of its economic agenda, including its tariff policy.
SUPREME COURT STRIKES DOWN TRUMP’S SWEEPING ‘LIBERATION DAY’ TARIFFS
“I can see doing, you know, some targeted tariffs on countries that aren’t treating us right, but that’s not what the president was doing,” Rep. Don Bacon (R-NE) told the Washington Examiner.
Trump’s economic approval rating averages a net negative of 15 points, with many voters criticizing his administration over persistently high consumer prices. Many Republicans remain worried about the impact that voters’ economic concerns will have on the midterm elections.
