President Donald Trump mentioned Friday he’s instantly going to enact a ten% world tariff below a commerce regulation referred to as Section 122 following the Supreme Court’s landmark ruling earlier within the day. In a 6-3 choice, the justices discovered Trump lacked the authority to impose sweeping tariffs citing emergency financial authority.
But not like the prior tariffs Trump imposed, the brand new levies can solely be in place for a most of 150 days, barring congressional approval for an extension. Trump additionally advised reporters he will likely be initiating a number of new investigations which are obligatory precursors to imposing tariffs below a separate commerce regulation referred to as Section 301.
0:00 Trump imposes extra 10% world tariff
0:30 Supreme Court ruling "deeply disappointing"
1:11 Foreign international locations "dancing in the streets, but they won’t be dancing for long"
2:20 Majority justices being "fools and lapdogs", "unpatriotic and disloyal to our Constitution"
7:33 "I can do anything I want, but I can’t charge one dollar"
14:34 "all national security tariffs. . .remain fully in place"
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