Summary
President Trump announced that he would increase global tariffs to 15% after the Supreme Court ruled that certain import taxes were illegal. The new tariffs will replace the previous ones and are set to take effect next week under a different trade law.
Key Facts
- President Trump plans to raise global tariffs to 15%.
- The announcement came a day after the Supreme Court deemed some import taxes illegal.
- The Supreme Court's decision was a 6-3 ruling.
- President Trump used a separate trade law, Section 122, to implement the new tariffs.
- Section 122 allows tariffs of up to 15% for addressing payment issues.
- These measures can last for 150 days unless Congress extends them.
- The tariffs are set to take effect next week.
