President Donald Trump said Saturday that he was raising the global tariff he wants to impose to 15 per cent, up from 10 per cent he had announced a day earlier.
Trump said in a social media post on that he was making the decision “Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued Friday,” by the US Supreme Court.
After the court ruled he didn’t have the emergency power to impose many sweeping tariffs, Trump signed an executive order on Friday night that enabled him to bypass Congress and impose a 10 per cent tax on imports from around the world. The catch is that those tariffs would be limited to just 150 days, unless they are extended legislatively. Under the order Trump signed Friday night, the 10 per cent tariff was scheduled to take effect starting February 24.