President Donald Trump Friday evening, he said he had signed a decree imposing a new 10%”overall price,” a few hours after the Supreme Court The abolition of its “reciprocal” import duties constitutes a major rebuke to its trade agenda.
The “Section 122” tariffs will take effect “almost immediately,” Trump said in a statement. Truth on social media.
They are in addition to levies that remain intact after the high court ruling struck down tariffs imposed by Trump under the International Emergency Economic Powers Act, or IEEPA.
At a White House press briefing Friday afternoon, Trump denounced the “deeply disappointing” 6-3 decision. decision.
“I’m ashamed of some of the members of the Court, absolutely ashamed that they don’t have the courage to do what’s right for our country,” Trump said.
The decision laid the legal foundation for a slew of tariffs that Trump insists are essential to the U.S. economy and to rebuilding America’s flagging manufacturing base.
Trump’s reciprocal tariffs and drug trafficking obligations both depended on his administration’s broad interpretation of IEEPA. But the court majority ruled Friday that IEEPA “does not authorize the president to impose tariffs.”
The new 10 percent global tariffs, with a 150-day deadline, will effectively replace the IEEPA duties, a White House official told CNBC on Friday.
That could mean lower U.S. tariff rates for some of the countries that have reached trade deals with the Trump administration or are in trade talks.
Indeed, many of these countries and regions have faced U.S. tariffs in excess of 10% under these agreements. The European Union, for example, has accepted a Price 15% as part of its trade agreement with the United States
These tariffs were largely implemented under the IEEPA, meaning they were struck down following the Supreme Court’s decision.
The upheaval could be significant for China, which faces two rounds of 10% U.S. tariffs based on IEEPA, in addition to a 25% tariff still in place. These IEEPA tariffs will be replaced by Trump’s new global tariffs, bringing China’s total rate to 35%, the White House official told CNBC.
Trump was adamant he would find other ways to impose tariffs without Congress. And the White House official noted that as the administration uses additional legal tariff pathways, the rates imposed on each country could return to their higher levels.
When asked at Friday’s news conference why he didn’t want to work with the legislature, Trump said, “I don’t have to. I have the right to impose tariffs.”
Trump’s remarks ranged between provocative and scathing. He even attacked Justices Neil Gorsuch and Amy Coney Barrett, whom he appointed, after voting with the majority.
“I think their decision was terrible,” Trump said. “I think it’s embarrassing for their families, you want to know the truth. Both of them.”
The new tariff order invokes Section 122 of the Trade Act of 1974. Tariffs created under that law can last only 150 days, with any extension requiring congressional approval.
Asked during the press briefing about this deadline and about obtaining Congressional membershipTrump said: “We have the right to do pretty much whatever we want to do.”
Trump also said any active tariffs under laws known as Section 232 and Section 301 would remain “in full force and effect.”
Read more about CNBC’s coverage of the ratesThe Trump administration is also using Section 301 to launch several investigations into possible unfair trade practices, which could result in additional new tariffs, Trump said.
Most of the U.S. customs revenue generated last year came from IEEPA tariffs.
“Other alternatives will now be used to replace those that the court wrongly rejected,” Trump said Friday.
“We will make more money and we will be much stronger for it,” he said.
Treasury Secretary Scott Bessent, speaking at the Economic Club of Dallas shortly after Trump, said the administration would replace the tariffs rejected by IEEPA by leveraging a number of other existing tariff laws.
This “will result in virtually unchanged tariff revenues in 2026,” Bessent said. “No one should expect customs revenues to decline.”
—CNBC Eamon Javers contributed to this report.
