In a bold move from the Oval Office, President Donald Trump has signed an executive order imposing a 10% tariff on imports from all countries, effective almost immediately. This decision comes hot on the heels of a Supreme Court ruling that struck down his previous attempt to use emergency powers for targeted tariffs.
Trump, fresh off his second term victory, had vowed to reshape global trade on America’s terms. The court deemed his use of the International Emergency Economic Powers Act (IEEPA) illegal for imposing tariffs. Undeterred, Trump pivoted to alternative legal authority under Section 122 to enact this uniform 10% global tariff.
Posting on Truth Social, Trump celebrated the signing: ‘Signing the global 10% tariff on all countries from the Oval Office is a great honor – it will go into effect almost immediately. Thank you!’ His frustration with the court was evident in earlier remarks during a press conference.
‘The court says I can’t charge even a dollar. If I used a penny, but now we don’t make money, we save money,’ Trump stated. He argued that while IEEPA bars charging fees, it allows him to ban trade entirely or expel countries from U.S. markets. ‘I can do anything I want except charge a dollar because it’s not written there,’ he added.
White House officials clarified that this tariff applies temporarily to nations like India, the UK, EU countries, and Japan that had negotiated trade deals with Trump. ‘The Supreme Court ruled the President cannot impose tariffs using IEEPA legal authority,’ a spokesperson said. Now, shifting to Section 122, the administration expects trading partners to honor existing commitments on reducing trade barriers.
This escalation signals Trump’s aggressive trade stance, potentially sparking retaliatory measures worldwide. Economists warn of higher consumer prices and supply chain disruptions, but Trump frames it as protecting American interests. As negotiations for permanent rates continue, global markets brace for impact.