In his statement, Trump noted: “I am pleased to announce that I have just signed a decree imposing a global tariff of 10% for all countries, and it will take effect almost immediately.”
This decision was a result of a recent 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 and will begin on February 24 at 06:01 Central European Time. Approval from Congress will be required to extend this measure for a longer period.
Trump justified his actions by citing provisions of the Trade Act of 1974, although experts express doubts about the legal justification for this step.
Additionally, the White House announced that there will be exceptions: tariffs will not apply to goods that are critical to the U.S. economy. This list includes rare earth metals, certain types of agricultural products, medications and pharmaceutical active ingredients, some cars, books, and aerospace products. Special customs agreements may also apply to certain categories of goods depending on the country of origin.
