President Donald Trump announced Friday (February 20) that he will impose a new 10% global tariff following a Supreme Court decision that struck down his previous sweeping tariff plan. The announcement came during a contentious news conference where Trump criticized the six justices who ruled against him.
The high court ruled 6-3 that Trump exceeded his authority under the 1977 International Emergency Economic Powers Act (IEEPA) to impose reciprocal tariffs.
Trump said he would sign an executive order imposing the new tariffs under Section 122 of federal law. This authority is limited to 150 days unless Congress extends it. The president also announced his administration is exploring additional tariffs through other legal avenues.
"Today I will sign an order to impose a 10% global tariff under section 122 over and above our normal tariffs already being charged," the president told reporters. "And we're also initiating several section 301 and other investigations to protect our country from unfair trading practices of other countries and companies."