Trump's Tariff Tactics: A 15% Twist in U.S. Trade Policy

The U.S. began collecting a new 10% global import tariff, with an expected increase to 15%. Confusion surrounds President Trump's tariff policies following a Supreme Court decision. The White House insists no change of heart in imposing the tariff under the Trade Act of 1974.

The United States has initiated the collection of a temporary 10% global import tariff, but plans for an increase to 15% remain in the works, according to a White House official. The decision follows a recent Supreme Court ruling, casting uncertainty over President Donald Trump's tariff policies.

Despite Trump's assertion of raising tariffs to 15%, the U.S. Customs and Border Protection agency informed shippers of the 10% rate. The administration has yet to issue a formal order for the increase, leaving the 10% rate intact per the current presidential orders.

The tariff, imposed under Section 122 of the Trade Act of 1974, is justified by an alleged serious balance-of-payments deficit. As trade uncertainties persist, economists question the necessity of the tariffs, while global trading partners express their desire to maintain existing agreements.

(With inputs from agencies.)