Trump increases tariff to 15% from 10%, post SC verdict

Donald Trump on Saturday said he will increase the tariffs to 15 per cent from 10 per cent announced after the Supreme Court verdict striking down the tariffs levied under the International Emergency Economic Powers Act does not authorize the President to impose tariffs.

Listen to this article

Soon after the verdict, Trump invoking his authority under section 122 of the Trade Act of 1974, imposed a 10 per cent ad valorem import duty on imports into the US, on top of any existing tariffs, and then issued a proclamation putting them into effect.

The Proclamation imposes, for a period of 150 days a 10 per cent ad valorem import duty on articles imported into the United States. The temporary import duty was to take effect from 24 February

Trump said he is increasing the tariff to the fully allowed and legally tested 15 per cent with immediate effect.

During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, he said.

 

Latest

HDFC Bank identifies 2 candidates for MD post

The bank has submitted the names of two candidates...

Navin’s forays into plotted development

The announcement was made at the company’s 37th anniversary...

Croma announces special prices for iPhone 17 Pro

Croma, a brand of Infiniti Retail Ltd, is continuing...

Army Design Bureau reviews Garuda’s drone ops

IPO-bound Garuda Aerospace said it used the visit to...

Newsletter

Don't miss

HDFC Bank identifies 2 candidates for MD post

The bank has submitted the names of two candidates...

Navin’s forays into plotted development

The announcement was made at the company’s 37th anniversary...

Croma announces special prices for iPhone 17 Pro

Croma, a brand of Infiniti Retail Ltd, is continuing...

Army Design Bureau reviews Garuda’s drone ops

IPO-bound Garuda Aerospace said it used the visit to...

Milky Mist’s new yoghurt plant goes on stream

In a statement, the company said the new facility...

HDFC Bank identifies 2 candidates for MD post

The bank has submitted the names of two candidates in order of preference and the remuneration proposed to be paid to them, for a...

Navin’s forays into plotted development

The announcement was made at the company’s 37th anniversary celebration, themed ‘Beyond 37 – Past, Present & Future’, in Chennai. The company said the entry...

Croma announces special prices for iPhone 17 Pro

Croma, a brand of Infiniti Retail Ltd, is continuing to sell the iPhone 17 Pro and iPhone 17 Pro Max with special offers, including...