Connect with us

World

US imposes new import tariffs following supreme court rulling

Published

on

Fresh tariffs on imported goods into the United States took effect on Tuesday, as President Donald Trump revived his trade policy agenda following a ruling by the Supreme Court of the United States that struck down part of his earlier global duties.

The new tariffs, which start at 10 percent, were introduced by the White House as part of efforts to address what it described as “the large and serious United States balance-of-payments deficits.”

According to a statement released on Friday, the administration said the measure is aimed at protecting the American economy and reducing trade imbalances.

President Trump has also announced plans to increase the tariff rate to 15 percent. However, certain goods will remain exempt. These include products already under sector-specific trade investigations and items covered under the United States-Mexico-Canada trade agreement.

The US president has doubled down on imposing tariffs on trading partners since the high court on Friday struck down many of his sweeping and often arbitrary duties, in a rebuke of his signature economic policy.

His sector-specific tariffs on goods like steel and autos remain intact, but the ruling sets the stage for a complex fight for refunds elsewhere.

The new duty taking effect Tuesday only lasts for 150 days unless extended by Congress and is widely seen as a bridge towards more durable trade policy.

US Customs and Border Protection has said it would stop collecting tariffs struck down by the court starting Tuesday, too.

It separately said it would start collecting the new 10-percent tariffs Tuesday.

The conservative-majority court ruled six to three that Trump had exceeded his authority in using a 1977 law to impose sudden tariffs on individual countries.

Trump’s new tariff will apply to $1.2 trillion worth of imports on an annual basis or about 34 percent of total goods imported, said Erica York, vice president of federal tax policy at the Tax Foundation.

“The Trump tariffs amounted to an average tax increase per US household of $1,000 in 2025,” she added.

With Trump’s global tariffs imposed under the International Emergency Economic Powers Act ruled illegal, his new and existing duties are still set to “result in a household burden of $700 in 2026,” she said.

– ‘Wings clipped’ –

Trump insisted Monday that the Supreme Court gave him “far more powers and strength” with its ruling, adding that he could “use licenses to do absolutely ‘terrible’ things to foreign countries.”

“With his tariff wings clipped, Trump needs a new tool to express displeasure on actions by others,” said Wendy Cutler, a former US trade official.

“Threatening steep licensing fees is an alternative but it lacks the flair and quantitative nature of tariffs,” added Cutler, senior vice president at the Asia Society Policy Institute.

Trump also threatened Monday to hike tariffs on countries that choose to “play games” following the court decision, in a warning to nations that recently struck trade deals with Washington under the threat of duties.

Over the past year, Trump has imposed various tariff rates on partners — sometimes changing them on short notice — to cajole and punish both friend and foe. He has used this as leverage in trade talks.

US Trade Representative Jamieson Greer said Sunday on CBS that tariff agreements remain in force despite the ruling: “We expect our partners to stand by them.”

But the threatened 15-percent duty, for some countries like Britain and Australia, exceeds a 10-percent rate they faced under the previous program. Cutler warned that Trump’s actions could intensify US partners’ disappointment. While it is doubtful that they would retaliate, they could step up efforts to diversify away from the United States, she said.

Join Very Nigerian WhatsApp Channel
For Verified Breaking News, Exclusive Reports, Trending Stories, And Real-time Updates.
CLICk HERE TO JOIN!
WhatsApp

Pearl Essien is a digital content creator and a graduate of the prestigious University of Calabar. With over four years of experience in writing, she specializes in crafting engaging stories that inform and inspire readers. Outside of her work, Pearl enjoys storytelling, reading, and playing table tennis, bringing the same curiosity and passion to her hobbies as she does to her writing.

Advertisement Follow Us on Google Discover
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Sports5 hours ago

Mbappé makes history, Saka nets hat-trick as England clinch World Cup bronze with thrilling 6-4 victory over France

Politics7 hours ago

Gombe 2027: PDP aspirant withdraws court case, backs Pantami

News7 hours ago

Arabic Education should be integrated into national curriculum – Gov. Bala Mohammed

Politics10 hours ago

Obi/Kwankwaso ticket cannot win 2027 elections, NDC lone senator, Hanga says as he plots defection to APC

News12 hours ago

UNICAL moves to curb exam fraud, sacks eight staff, penalizes one

News13 hours ago

TCN announces power blackout in Yobe, Bauchi, Gombe, three other Northern states

News14 hours ago

Police nab eight suspected cultists over alleged assault on Bayelsa Varsity student

Entertainment17 hours ago

Tems makes history as first African female artist with US Diamond-certified single

Politics17 hours ago

Imo now one-party state, our people have decided to re-elect Tinubu in 2027, Says Uzodimma

Metro18 hours ago

Court sentences two men to death by hanging for raping, murdering 17-year-old girl in Anambra

Sports18 hours ago

Trump criticises Tuchel’s tactics after England’s World Cup exit to Argentina

News18 hours ago

NBA Presidential Poll: Badejo-Okusanya leads as voting continues after cyberattack delay

Politics19 hours ago

APC crisis deepens as Aiyedatiwa’s loyalists sue party, INEC over Ondo primaries

News19 hours ago

NUJ FCT Chairman Grace Ike wins Beacon of Education Award, pledges support for children with special needs

World20 hours ago

5.0-magnitude quake rocks Southeastern Turkey