Trump Declares Global 10% Tariff, Because World Always Needed More Layers

KEY POINTS

•President Trump announced on Friday he will sign an executive order imposing a 10% tariff on all nations starting next week.
•This move replaces previous tariffs the Supreme Court overturned, now relying on the Trade Act of 1974's Section 122 authority.
•Trade negotiator Jamieson Greer praised the new tariffs as legally durable, aiming to address trade deficits without Congress at least initially.

On Friday (because weekends are perfect for world economics), President Trump announced he’d sign an executive order to slap a 10% tariff on all nations to replace crushed tariffs quashed by the Supreme Court—because nothing says stability like channeling the Trade Act of 1974, which is apparently the legal equivalent of the VCR of trade laws. Trump insists the tariffs, effective next week, will patch over the 'too sweeping' levies declared illegal. Jamieson Greer, Trump’s trade negotiator, called the plan 'incredibly legally durable,' promising a continuity of tariffs, so global goods better buckle in for some bureaucratic bumper cars. The law only allows 15% for 150 days without Congress, so it’s a speed date tariff, not a lockdown.

Share the Story

(1 of 3)

Mockingbird News

@MockingbirdNews · now

When your Supreme Court says no, but you find a 50-year-old trade law like it’s that forgotten winter coat in your closet. 10% global tariffs, because why not pay more for everything next week?

210/280 charactersReady to post