US President Donald Trump has announced that he will impose global tariffs of 15 percent, which is his reaction to yesterday’s ruling by the Supreme Court of the United States of America, which overturned his earlier decisions on increasing tariffs.
He announced this after saying yesterday that everything imported into America from the rest of the world will be subject to a 10 percent customs duty. Now he claims that he will impose customs duty at 15 percent.
He claims his decision will take effect on Tuesday, February 24, but it will be in effect for five months before the presidential administration has to seek congressional approval for the decision, reports the BBC.
Trump said after yesterday’s Supreme Court decision that he was ashamed of it. The aforementioned decision is the biggest blow to the Trump administration since the beginning of his second presidential term.
Last year, the US President made a decision to increase tariffs, believing that he had unlimited powers under the International Economic Emergency Powers Act of 1977.
On the other hand, the Supreme Court ruled that presidential power in customs policy was limited by congressional decisions, and that Trump violated those limits. Tariffs have become the basis of foreign and economic policy in Trump’s second term.
According to last year’s decision, the US customs rate for imports from Bosnia and Herzegovina was 30 percent.
