Trump to Hike Global Tariffs to 15% from 10%, 'Effective Immediately'

The Trump administration has announced that it will increase global tariffs to 15% from 10%, effective immediately. This move comes as a surprise to many, as the Supreme Court had recently struck down Trump's tariffs.

The decision to hike tariffs was made by Trump himself, who warned that the Trump Administration will determine and issue the new and legally permissible Tariffs during the next short number of months. This move is expected to have a significant impact on global trade and may lead to retaliatory measures from other countries.

The increase in tariffs is seen as a move to protect American industries and workers, but it may also lead to higher prices for consumers. The impact of the tariffs on small businesses is still unclear, as they may not be able to absorb the increased costs.

The move has been met with criticism from many, who argue that it will lead to higher prices and job losses. The impact of the tariffs on the economy is still uncertain and will likely be felt in the coming weeks and months.

Sources

[6] Trump to hike global tariffs to 15% from 10%, 'effective immediately'