In his message, Trump noted: “I am proud to announce that I just signed a global tariff of 10% for all countries from the Oval Office, which will take effect almost immediately.”
This decision was the result of a ruling by the U.S. Supreme Court, which deemed previous tariffs against specific trading partners illegal. According to information from the White House, the new tariffs will be in effect for 150 days, starting from February 24 at 06:01 Central European Time. To extend this measure for a longer period, the administration will require the consent of Congress.
As Trump explained, he is basing this on provisions of the Trade Act of 1974. However, experts express doubts about whether this situation meets the legal requirements for applying this norm.
Additionally, the White House announced some exceptions: the new tariffs will not apply to goods that are vital for the U.S. economy. This includes rare earth metals, certain agricultural products, medications and pharmaceutical active ingredients, certain types of vehicles, books, and aerospace products. Special customs agreements may also apply to certain categories of goods depending on the country of origin.
