Tariff increased from 10% to 15%…Donald Trump’s big decision after Supreme Court’s decision, said- US was cheated for decades

New Delhi : There is big news from Washington where President Donald Trump has shocked the international business world and increased the import duty drastically. On Saturday he announced that there will now be a 15 percent tariff on goods coming from all countries instead of 10. This move comes just after the Supreme Court’s decision which declared their old tariff program illegal. This aggressive decision of Trump has now created a new stir in the global economy.

Reaction to Supreme Court’s decision

President Trump appeared quite angry after the US Supreme Court canceled his tariff program. The court had declared the charges illegal under the emergency law. In response, Trump on Friday ordered an immediate 10 percent tariff. They believe that even though the court’s decision may have hurt the old system, they will not give up. They immediately started looking for a new and legally stronger alternative.

New global hit of 15 percent

On Saturday, Trump went one step further and raised the tariff rate to the highest level of 15 percent. He wrote on the social media platform ‘Truth Social’ that they are increasing tariffs on those countries which have been taking advantage of America for decades. Trump said that before his arrival no one had asked for any account from these countries. Now they will immediately use the full 15 percent limit allowed by law.

Temporary time limit of 150 days

The US President has the power to impose a levy of up to 15 percent for 150 days without any lengthy process. Trump wants to use this time to make his future strategy. During this 150 day period, his administration will work with full force on new and ‘legally valid’ rules. This is a temporary solution to protect American industries from foreign competition and unequal profits.

Work on new legal strategy

The process of creating such tariffs has now begun within the Trump administration which will not face legal challenges in the future. The President has made it clear that he will not sit idly by just increasing the duty, but will issue a set of new rules to make it permanent. White House experts are now studying old laws and court precedents. Its objective is to bring America back to a powerful position on the global business stage.

Potential impact on the global economy

This decision of Trump will have a direct impact on all the major trading partners including India and Europe. Although experts say that this step can be challenged again in the courts, but immediately it will make imported goods costlier. Trump’s ‘America First’ policy in global diplomacy has once again raised the possibility of a trade war. Now all eyes are on international reactions and changes in the American markets.