Source: Fortune
Summary
President Donald Trump announced that he will increase the global tariff from 10% to 15% in response to the US Supreme Court’s ruling that his tariff mechanism was illegal. The Supreme Court’s ruling led Trump to impose a 10% global tariff on foreign goods on Friday. Trump stated that the new 15% tariff will be effective immediately.
Our Reading
The announcement sounds familiar.
Trump’s trade agenda is known for its unpredictability. The 10% global tariff was imposed just hours after the Supreme Court’s ruling. Trump’s decision to increase the tariff to 15% is a move to preserve his trade agenda. The new tariff will be effective immediately. Trump’s actions reflect a common pattern of responding to challenges with increased tariffs.
When the law gets in the way, tariffs go up.
Author: Evan Null
