President Trump said late Friday he signed an executive order that will impose 10% tariffs on imports from all countries, just hours after the Supreme Court struck down a set of sweeping global tariffs that were issued under a different legal authority.
“It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately,” the president wrote on Truth Social.
The executive order has not yet been released.
Mr. Trump told reporters earlier Friday that he planned to roll out new 10% tariffs under Section 122 of the Trade Act of 1974, which allows for duties of up to 15% to deal with “large and serious” balance-of-payment issues. The law puts a 150-day time limit on those tariffs unless they’re extended by an act of Congress.
This is a breaking story; it will be updated.
