US President Donald Trump on Friday announced a temporary 10% tariff on imports from all countries, moving swiftly to restore trade duties that were recently struck down by the Supreme Court. In a post on Truth Social, Trump said, โIt 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.โ
The new tariff will remain in place for 150 days.
Trumpโs announcement comes after the Supreme Court invalidated tariffs that had been imposed under the 1977 International Emergency Economic Powers Act (IEEPA). Those earlier duties ranged from 10% to 50%.
Higher tariffs could followย
Trump also confirmed that his administration is launching new country-specific investigations under Section 301 of the 1974 Trade Act. โThese steps are to protect our country from unfair trading practices of other countries and companies,โ he said.
He suggested that even higher tariffs could follow. โWe have alternatives, great alternatives. Could be more money. Weโll take in more money and weโll be a lot stronger for it,โ Trump added.
Invokes section 122 of 1974 trade lawย
Earlier in the day, Trump told reporters he was using Section 122 of the Trade Act of 1974 to bring in the fresh duties. The rarely used provision allows a president to impose tariffs of up to 15% for up to 150 days to address serious balance-of-payments issues. It does not require a lengthy investigation.
Treasury Secretary Scott Bessent said the new 10% tariff, along with possible actions under other trade laws, would ensure that tariff revenues remain largely unchanged in 2026.
Speaking to Fox News, Bessent said the administration could also use:
- Section 301, which targets unfair trade practices
- Section 232, which focuses on national security concerns
โWe will get back to the same tariff level for the countries. It will just be in a less direct and slightly more convoluted manner,โ Bessent said. He added that the Supreme Court ruling had reduced Trumpโs leverage in trade talks. The new tariffs may also face court challenges. However, because Section 122 limits tariffs to 150 days unless Congress approves an extension, the duties could expire before courts deliver a final ruling.