[Breaking] Trump Calls Tariff Ruling "Disappointing" in State of the Union Address

On the 24th (local time), U.S. President Donald Trump said in his State of the Union address to a joint session of Congress that the recent U.S. Supreme Court ruling against reciprocal tariffs was a "disappointing decision," adding that "without our tariff policy, we would not have had our economic performance."

He went on to say, "I projected the economy accurately, and the economists' projections were wrong." This appeared to refer to the fact that many economists had previously predicted inflation driven by higher import prices once tariffs were imposed.

He continued, "(The Supreme Court) handed down a regrettable ruling, but there is good news as well," noting that "almost all countries and companies are trying to comply with the agreements they have signed with the United States." He then added, "We will be able to impose tariffs by using alternative laws," and said, "Even if it may be somewhat complicated, we will use other laws to impose tariffs through a proven procedure without the approval of Congress."

After last week's Supreme Court ruling, President Trump immediately announced that, based on Section 122 of the Trade Act, he would apply a 10% tariff rate to countries around the world. As of 12:01 a.m. the previous day, the 10% global tariff has taken effect. The Trump administration is maintaining its policy of raising this to 15%, although it has not yet specified a concrete deadline. At the same time, it has also launched tariff investigations under Section 232 of the Trade Expansion Act and Section 301 of the Trade Act.