#TrumpNewTariffs 🔥 1. Supreme Court Blocks Trump’s Original Tariffs
A major development: the **U.S. Supreme Court ruled that many of former President Donald Trump’s sweeping tariff measures were illegal because he exceeded executive authority under emergency powers. That decision invalidated a large chunk of the tariffs he imposed last year. �
Bloomberg.com +1
📉 2. U.S. Has Stopped Collecting Illegal Tariffs
U.S. Customs and Border Protection (CBP) has ceased collecting the tariffs deemed illegal by the Supreme Court. It also deactivated related tariff codes — but refunds to importers are still uncertain and may face legal challenges. �
Reuters
📈 3. Trump Has Pivoted & Raised a New 15% Global Tariff
Trump responded by raising the global tariff rate from 10 % to 15 %, aiming to implement it under a different legal authority (Section 122 of the 1974 Trade Act). This tariff is temporary (max 150 days) unless Congress extends it. �
Financial Times
The new flat-rate tariff is intended to apply broadly to imports — including goods from key trading partners — and Trump insists it’s “legally tested.” �
Financial Times
🌍 4. Global Reactions & Trade Diplomacy Shifts
Trade partners — especially the EU, UK, and Japan — are pushing for clarity, urging the U.S. to honor existing trade deals even amid the tariff changes. Some have threatened or prepared retaliatory measures. �
AP News
India and other countries are watching closely — New Delhi paused planned trade team visits to Washington while assessing how the court’s ruling affects negotiations. �
The Times of India
💰 5. Talk of Using Tariff Revenues Domestically
Trump has floated the idea of giving direct payments (up to $2,000) to Americans funded by tariff revenues — an unconventional approach that may not need congressional approval, though legal hurdles remain. �
The Times of India
📊 6. Economic Impact & Winners/Losers
Analysts say the new tariff regime could benefit some exporters (e.g., China & Brazil) because the uniform 15 % levy actually lowers effective duties on certain goods compared with earlier rates — while others (like the UK) face higher tariffs. �
Financial Times
In short:
🔹 The Supreme Court struck down Trump’s original tariff framework.
🔹 The U.S. has stopped collecting those tariffs, with refund issues unresolved.
🔹 Trump quickly pivoted to a new 15 % global tariff under different authority, creating fresh uncertainty in global trade.
🔹 Governments and businesses worldwide are reacting and adjusting diplomatic/trade strategies.