Trump imposes 10% global tariff after court decision

On Friday, U.S. President Donald Trump announced plans to implement a 10 percent global tariff for 150 days to replace some of the emergency duties overturned by the U.S. Supreme Court.

Trump said that his order would be made under Section 122 of the Trade Act of 1974 and the duties would be over and above tariffs that are currently in place, News.Az reports, citing foreign media.

The statute allows the president to impose duties of up to 15 percent for up to 150 days on any and all countries related to "large and serious" balance of payments issues. It does not require investigations or impose other procedural limits.

"We have alternatives, great alternatives" Trump said. "Could be more money. We'll take in more money and we'll be a lot stronger for it," Trump said of the alternative tools.

Trump said his administration also was initiating several Section 301 unfair trade practices investigations "to protect our country from unfair trading practices of other countries and companies."

Trump's decision to lean on other statutes, including Section 122, while initiating new investigations under Section 301 had been widely anticipated. But the 10 percent tariffs he announced Friday can only remain in effect for 150 days, and Section 301 investigations generally take months to complete.

News.Az