A new 10% global tariff imposed by Donald Trump has come into force, despite his weekend threat to raise it to 15%. The levy, applied under Section 122 of the Trade Act of 1974, will run for 150 days and sits on top of existing most-favoured-nation duties.
The decision follows a ruling by the Supreme Court of the United States striking down many of Trump's previous "liberation day" tariffs. In response, Trump announced the new global measure, though the higher 15% rate has not yet been implemented.
Business groups warned the policy creates fresh uncertainty. William Bain of the British Chambers of Commerce said the 10% rate offers "some relief" compared with 15%, but makes it difficult for exporters to plan pricing and margins.
Economists say the tariffs could still face legal challenges, while the administration is expected to pursue further protectionist measures in the months ahead...