President Donald Trump announced Saturday he would be raising his global tariff rate by 50%, one day after the Supreme Court ruled against the authority he invoked to tax imports.
In Friday’s landmark 6-3 decision, the Court ruled the Carter-era International Emergency Economic Powers Act (IEEPA) does not allow Trump to implement tariffs. The president almost immediately declared a temporary 10% global tariff, citing a different 1970s law as its authority. The following day, Trump announced on Truth Social he would be increasing the 10% tariff to 15%, which he called the “the fully allowed, and legally tested” level. (RELATED: Alan Dershowitz Says Trump Team Made ‘Wrong Argument’ In Tariff Case)
