U.S. President Donald Trump speaks throughout a press briefing held on the White Home February 20, 2026 in Washington, DC.
Kevin Dietsch | Getty Photos Information | Getty Photos
President Donald Trump on Saturday stated he would enhance international tariffs to fifteen% from 10%, in the future after the Supreme Courtroom struck down a broad swath of the president’s commerce agenda.
In a Reality Social publish, Trump stated the brand new tariffs will probably be “efficient instantly.” He additionally warned that extra levies would observe.
“I, as President of the US of America, will probably be, efficient instantly, elevating the ten% Worldwide Tariff on Nations, a lot of which have been “ripping” the U.S. off for many years, with out retribution (till I got here alongside!), to the totally allowed, and legally examined, 15% degree,” he wrote.
“In the course of the subsequent brief variety of months, the Trump Administration will decide and situation the brand new and legally permissible Tariffs,” he added.
Trump’s announcement claimed that the brand new tariffs will take impact immediately, however it’s unclear if any official paperwork have been signed detailing the timing. A White Home truth sheet issued Friday stated the unique 10% tariffs would go into impact on Tuesday, Feb. 24, at 12:01 a.m. ET.
The White Home didn’t instantly reply to a CNBC request for clarification.
Trump, who’s scheduled to ship his State of the Union handle to Congress on Tuesday, was dealt a blow Friday when the Supreme Courtroom determined in a 6-3 tariff ruling that the president wrongfully invoked the Worldwide Emergency Financial Powers Act (IEEPA) to implement his levies.
On Friday, Trump responded hours after the ruling with a 10% international tariff that he invoked below Part 122 of the Commerce Act of 1974. The statute permits the president to impose momentary levies for 150 days. Any extension requires congressional approval.
The president was scathing in his remarks towards the Supreme Courtroom determination, calling the ruling “ridiculous, poorly written, and terribly anti-American” in a social media publish.
He additionally attacked Justices Neil Gorsuch and Amy Coney Barrett after they voted with the bulk within the ruling.
Congressional Democrats rejoiced following the choice, with Senate Minority Chief Chuck Schumer, D-N.Y., saying in a press release that the tariffs have been “chaotic and unlawful.” Tariffs and the broader financial system are anticipated to be key points for the Democrats on the marketing campaign path for this yr’s midterm elections in November.
Republicans have been extra divided on the problem. Some slammed the Supreme Courtroom for its determination, whereas others argued that Congress has the constitutional authority to implement levies.
On Friday, shares rallied initially following the Supreme Courtroom determination, earlier than pulling again after which recovering once more. Traders anticipate the ruling may allay tensions between the U.S. and its buying and selling companions, and presumably refund affected firms and scale back inflation.
How the U.S. authorities will proceed with refunds stays a query. By one estimate, the U.S. authorities may owe greater than $175 billion in refunds to importers following the Supreme Courtroom determination.
