'Judges Let America Down,' Trump Announces 10% Global Tariff After Court Setback

Washington: Trump hinted at taking a big economic step on Friday. He said that he will soon sign an order in which an additional 10 percent global tariff will be imposed on every country in the world for 150 days. Trump says that this decision is very important to protect America's economic interests and improve the trade balance.

Why is Trump so angry with the Supreme Court's decision?

Trump has openly expressed his anger. The Supreme Court had declared the huge global tariffs imposed earlier by him as illegal. These tariffs were imposed under the International Emergency Economic Powers Act (IEEPA). Trump said that he is extremely disappointed and surprised by this decision. He did not expect that the court would do this. He also said that the judges did not take decisions keeping in mind the interests of the country, rather he even called some judges "fools", "lapdogs" and "unpatriotic". They are angry because this is a big blow to their economic agenda.

Under which law will the new tariff be imposed?

Trump said that this new 10 percent tariff will be imposed under Section 122 of the Trade Act of 1974. According to this law, if there is a serious trade imbalance or balance of payments crisis, the president can impose additional tariffs of up to 15 percent on all countries for 150 days. This new tariff will be over the existing tariffs and may also replace some of the old emergency charges.

Can America completely stop trade with any country?

Trump says that yes, if necessary, the President can limit or completely stop trade with any country. He reiterated that America has strong economic options and the country's income can be increased through tariffs. Their aim is to make America stronger economically.

Will investigations be started on other countries and companies also?

The Trump Administration has indicated that investigation into unfair trade practices against several countries and companies will be initiated under Section 301. Its purpose is to find out whether any foreign company or country is doing unfair trade with America.

Are there any refunds on the old tariff?

Trump said that it is not yet clear whether refunds will be given on the tariffs canceled by the Supreme Court's decision or not. Even if a refund is decided, the entire process may take several years.