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#TrumpAnnouncesNewTariffs announcement of a 15% global import tariff marks a significant escalation in US trade policy, shifting from a temporary measure to what the administration calls the "maximum legal limit."
This move follows a major legal setback where the Supreme Court restricted the use of broad emergency powers for trade levies, forcing the administration to recalibrate its approach.
Key Developments
The Increase: The tariff was raised from 10% (announced Friday) to 15% on Saturday.
Legal Standing: President Trump framed the 15% mark as the ceiling of current legal authority following the recent Supreme Court ruling.
Rationale: The administration cites long-term "exploitation" of the US economy by global trading partners as the primary justification.
Timeline: The new rates are set to take effect immediately.