Tariffs, Trump’s new global tariffs in force at 10%

Milan, 24 February (LaPresse) – US President Donald Trump’s new global tariffs came into effect at 10 per cent after the US Supreme Court blocked many of Trump’s tariffs on imports on Friday. A few hours after last week’s ruling, Trump signed an executive order to impose the new tax starting on 24 February. The BBC points out that the new global tariffs that came into effect overnight are lower than expected and explains that Trump announced on Saturday that he would impose tariffs of 15%, but that no official directive to increase this rate has yet been issued. The new tariffs were imposed by Trump under Section 122 of the Trade Act of 1974, which allows the president to impose tariffs for 150 days without congressional approval.