Trump Signs "New 10% Global Tariff"... "To Take Effect Almost Immediately"

Signed Based on Section 122 of the Trade Act
Tariffs of Up to 15% for a Maximum of 150 Days Possible
Tariff Investigation Launched Under Section 301 of the Trade Act

Trump Donald, President of the United States. Yonhap News Agency

As the U.S. Supreme Court has ruled to invalidate country-specific "reciprocal tariffs," President Donald Trump on the 20th (local time) signed a 10% "global tariff" on all countries around the world.

On the same day, President Trump wrote on the social media (SNS) platform Truth Social, "I just signed a global 10% tariff on all countries around the world in the Oval Office (the White House office)," adding that "it will go into effect almost immediately."

The global tariff that President Trump signed this time is based on Section 122 of the Trade Act. Section 122 of the Trade Act authorizes the president to impose tariffs of up to 15% for a maximum of 150 days in order to address balance-of-payments problems.

This is intended to replace the 10% basic tariff (which had been included as part of the reciprocal tariffs) that can no longer be collected due to the U.S. Supreme Court ruling that reciprocal tariffs imposed under the International Emergency Economic Powers Act (IEEPA) are unlawful.

Earlier, at a White House press conference, President Trump said that this global tariff "will probably take effect in three days," and at the same time announced that he is launching a tariff investigation based on Section 301 of the Trade Act. Section 301 of the Trade Act grants the authority to impose tariffs in response to unfair, unreasonable, and discriminatory actions by foreign governments.

Meanwhile, on the same day, the U.S. Supreme Court ruled that President Trump’s reciprocal tariffs and the "fentanyl tariffs" on the United States, Canada, China, and other countries under the International Emergency Economic Powers Act (IEEPA) are unlawful. This upholds the lower courts’ rulings at the first and second instances that they were illegal.

As a result of this ruling, the Trump administration can no longer collect the reciprocal tariffs that had been imposed with differentiated rates by country.