REPORT: Trump’s global tariff takes effect. Details

0

From NBC News:

President Donald Trump’s reworked global tariffs began Tuesday at a rate of 10%, even though he said over the weekend that they would start at 15%.

On Friday, after the Supreme Court struck down most of Trump’s tariff agenda, he announced that he would quickly implement a 10% flat tariff for all trading partners using a different trade law.

One day later, Trump posted on Truth Social that “effective immediately” he would be “raising the 10% Worldwide Tariff … to the fully allowed, and legally tested, 15% level.”

Under the trade law the administration is now turning to, called Section 122, tariffs of up to 15% can be quickly applied, but only for up to 150 days.


A 10% tariff, which went into effect at 12:01 a.m. ET Tuesday, applies to all countries for 150 days, with exemptions. An official said the administration will raise it to 15% in a separate order that Trump will need to sign. No timeline was divulged.

Read more at NBC News

The Dennis Michael Lynch Podcast archive is available below, with the most recent on top. Never miss an episode. Subscribe to the show by downloading The DML News App or go to Apple Podcasts.

CLICK HERE FOR COMMENTS SECTION