Trump: "Global import tariffs" to be raised from 10% to 15%

Xinhua News Agency, New York, February 21 - U.S. President Donald Trump posted on social media on the 21st, saying that the "global import tariff" rate on goods imported into the United States that he announced the previous day would be raised from 10% to 15%, "effective immediately."

　　Trump said that based on a review of the ruling of the U.S. Supreme Court, the rate of the "tariffs on many countries around the world" would be immediately raised from 10% to 15%. In the next few months, the U.S. government will determine and promulgate new "legal tariffs."

　　The U.S. Supreme Court announced its ruling on the 20th, ruling that the U.S. "International Emergency Economic Powers Act" does not authorize the president to impose large-scale tariffs. This means that the Trump administration's tariff policy has suffered a major setback. Trump signed an executive order later that day, confirming the termination of the relevant tariff measures previously introduced under the "International Emergency Economic Powers Act."

　　Also on the 20th, after the Supreme Court's ruling was announced, Trump announced that, based on Article 122 of the "Trade Act of 1974," he would impose a "global import tariff" at a rate of 10% for a period of 150 days to replace the tariffs that were deemed illegal by the Supreme Court. According to U.S. media reports, this clause has never been used before. It allows the government to impose a maximum tariff of 15% for a maximum period of 150 days in the case of a trade imbalance with other countries, unless Congress approves an extension.

　　Trump also said that all tariffs imposed by the United States on the grounds of "national security" and those imposed under Article 232 of the "Trade Expansion Act of 1962" and Article 301 of the "Trade Act of 1974" would remain in effect.

　　U.S. Trade Representative Jamison Greer said in an interview with Fox News Channel on the 20th that the trade agreements that the United States has reached with other countries must be complied with, even if the tariff rates stipulated in the agreements are higher. He gave an example that the tariff rates on goods imported from Malaysia and Cambodia into the United States would remain at 19%. (Xinhuanet  Responsible Editor: Hu Rong)