WASHINGTON, February 21 (Reuters) – Donald Trump will increase his new global surtax from 10% to 15%, he announced on Saturday in a post on his Truth Social network, after the US Supreme Court overturned the broad reciprocal tariffs imposed by the American President.
“As President of the United States of America, I will, with immediate effect, increase the global tariffs imposed on certain countries by 10%, many of which have ‘ripped off’ the United States for decades without facing any retaliation (until my arrival!), to the maximum allowed level and also test to 15%,” he wrote on Truth Social.
Furious at the decision of the highest American court, Donald Trump ordered a global surtax of 10% on all imported products, citing the Trade Act of 1974.
Article 122 of the Trade Act allows the President of the United States to impose up to 15% tariffs on countries for a limited period of 150 days, when the American balance of payments shows significant and serious deficits. However, this decision can be subject to legal challenges.
To extend this measure after 150 days, the President must receive approval from Congress.
Several trade experts believe that Congress is unlikely to give a favorable decision, as many polls show that an increasing number of Americans attribute price increases to the tariffs imposed by Donald Trump.
(Doina Chiacu; French version Zhifan Liu)
