New Trump administration tariffs have kicked in at the lower than expected rate of 10%.
The United States President Donald Trump announced on Saturday that he would be introducing broad new tariffs at a rate of 15%, after stating the day before that it would be 10%.
This came after his attempts at mass import taxes were blocked by the Supreme Court, in a majority ruling, stating that he could not “point to clear congressional authorization”.
However, an executive order was signed the same day by Trump for 10% rate global tariffs, and the White House is now reportedly working to increase that to the 15% change he announced the day after.
These are operating under a section of the 1974 Trade Act, which allows the president to make the charge without congressional approval for 150 days.
