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

A biography on SNN Sankaralinga Iyer

The biography was authored by veteran journalist K Balakumar....

Activity Galore

Godrej Properties bought 47 acres off OMR for a...

When Numbers Tell A Tale…

 Ask the mandarins at TAFE (Trac­tors and Farm Equipment...

Managing Power

With mercury rising, Tamil Nadu’s power demand is hitting...

Newsletter

Don't miss

A biography on SNN Sankaralinga Iyer

The biography was authored by veteran journalist K Balakumar....

Activity Galore

Godrej Properties bought 47 acres off OMR for a...

When Numbers Tell A Tale…

 Ask the mandarins at TAFE (Trac­tors and Farm Equipment...

Managing Power

With mercury rising, Tamil Nadu’s power demand is hitting...

Minister Keerthana Chairs Budget Consultation Meeting

Detailed discussions were held on the Department's ongoing development...

A biography on SNN Sankaralinga Iyer

The biography was authored by veteran journalist K Balakumar. The Tamil translation of the book was also released simultaneously. The Tamil translation was done...

Activity Galore

Godrej Properties bought 47 acres off OMR for a plotted residential project, while Arihant Foundation and Housing acquired a prime Anna Salai site, adjacent...

When Numbers Tell A Tale…

 Ask the mandarins at TAFE (Trac­tors and Farm Equipment Ltd.). They will unhesitatingly vouch for it. Indeed, the flagship company of the Chennai-based Amalgama­tion...