Trump's new global tariffs come into effect - The 15% level will remain in effect for 150 days, until the end of July
New global tariffs of 15% imposed by US President Donald Trump took effect at 6:00 a.m. At the same time, US Customs and Border Protection (CBP) stopped collecting duties imposed under the International Emergency Economic Powers Act (IEEPA), which the US Supreme Court ruled unconstitutional.
The new tax, initially imposed by presidential decree at 10% and then increased by Trump by another 5% with a post on Truth Social in light of the updated decrees, replaces the so-called reciprocal tariffs and taxes related to the flow of fentanyl (for Canada, Mexico and China) imposed citing the emergency economic law Ieepa and rejected by the US justice system.
Last Friday, just hours after the decision, the president signed an executive order authorizing the 10% import tax. He later threatened to raise the rate to 15%, but Trump did not officially issue a directive to that effect until 12:01 p.m. Washington time on Tuesday, Feb. 24, when the 10% tax went into effect.
Therefore, Donald Trump is not backing down from tariffs and seems unwilling to deviate from a tough and uncompromising line. Countries that benefit from the Supreme Court's decision, he warns, "will face much higher and worse tariffs than those recently agreed to." These words came just hours after the 15% tariffs on all countries went into effect, replacing those that were deemed illegal in the Supreme Court's decision.
The 15% tariffs will remain in place for 150 days, until the end of July, as required by Section 122 of the 1974 Trade Act on which they are based. If Trump decides to extend them, he will have to turn to Congress, where, however, he will face a wall of Democrats ready to oppose by all means. The Democratic leader of the Senate, Chuck Schumer, has already assured that the party will fight to block any extension. A possible appeal to Congress to extend the existing tariffs or to codify them into law (thus giving the president leeway) is an option that is viewed with skepticism even by Republicans, given that it is an election year.
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