Trump’s Temporary Tariff Tactic: A 150-Day Global Economic Play

U.S. President Donald Trump announced a 10% global tariff for 150 days, utilizing Section 122 of the Trade Act of 1974. This move follows the Supreme Court's decision to strike down previous tariffs. New Section 301 investigations into unfair trade practices were also announced.

In a significant move on Friday, President Donald Trump declared the implementation of a 10% global tariff for 150 days, aimed at replacing emergency duties nullified by the U.S. Supreme Court. The imposition is set under Section 122 of the Trade Act of 1974, enhancing existing tariffs.

The Supreme Court had recently ruled Trump's previous broad tariffs under the International Emergency Economic Powers Act to be illegal. In response, Trump emphasized the availability of 'great alternatives,' suggesting a potential influx of revenue and strengthened economic standing.

Moreover, Trump disclosed plans for several Section 301 investigations targeting unfair trade practices by other countries. While these investigations are anticipated, the announced 10% tariffs can only last for 150 days, sparking discussions on the administration's strategic use of trade statutes.

(With inputs from agencies.)