#NewGlobalUS15%TariffComingThisWeek Initially, the U.S. president announced a rate of 10%, which increased to 15% one day later, as part of the 'powerful alternatives' he claims to have following the setback served by the high court.
International Economy Brazil The new global tariff of 15% imposed by U.S. President Donald Trump went into effect this Tuesday as a temporary alternative from the Republican after the Supreme Court invalidated much of his tax scheme.
Trump made the announcement last Friday at a press conference at the White House, where he criticized the 'ridiculous' decision of the Supreme Court that invalidated the 'reciprocal' tariffs and other measures taken under the International Economic Emergency Powers Act (IEEPA) of 1977, which forms the basis of the Republican's tariff policy.
The Supreme Court's ruling and Trump's response have caused uncertainty among U.S. trading partners, especially those who negotiated preferential tariffs amid the trade war.
Countries like Brazil, among the most affected by the now-suspended tariffs, have viewed the new global tariff as 'positive' as it levels them with the rest.
What is exempt from the new tariff?
The new rate, applied under Section 122 of the Trade Act of 1974, begins to apply from midnight this Tuesday and will be in effect for about 150 days, technically until the next July 23. After this, it can only be extended by Congress.
According to the White House, agricultural products such as beef and tomatoes, medications, critical minerals, and metals for coins, certain energy and aerospace products, donations, and related luggage are exempt from this surcharge.$USDC
International Economy Brazil The new global tariff of 15% imposed by U.S. President Donald Trump went into effect this Tuesday as a temporary alternative from the Republican after the Supreme Court invalidated much of his tax scheme.
Trump made the announcement last Friday at a press conference at the White House, where he criticized the 'ridiculous' decision of the Supreme Court that invalidated the 'reciprocal' tariffs and other measures taken under the International Economic Emergency Powers Act (IEEPA) of 1977, which forms the basis of the Republican's tariff policy.
The Supreme Court's ruling and Trump's response have caused uncertainty among U.S. trading partners, especially those who negotiated preferential tariffs amid the trade war.
Countries like Brazil, among the most affected by the now-suspended tariffs, have viewed the new global tariff as 'positive' as it levels them with the rest.
What is exempt from the new tariff?
The new rate, applied under Section 122 of the Trade Act of 1974, begins to apply from midnight this Tuesday and will be in effect for about 150 days, technically until the next July 23. After this, it can only be extended by Congress.
According to the White House, agricultural products such as beef and tomatoes, medications, critical minerals, and metals for coins, certain energy and aerospace products, donations, and related luggage are exempt from this surcharge.$USDC