Trump tariff chaos: What does 15% levy mean for trade deals the US signed?
Al Jazeera • • nation
Key Points:
- The US Supreme Court ruled 6-3 that former President Trump exceeded his authority by imposing tariffs under the International Emergency Economic Powers Act (IEEPA), stating that tariff powers belong exclusively to Congress, but tariffs under Section 232 of the Trade Expansion Act remain unaffected.
- In response, Trump imposed a new 15% global tariff under Section 122 of the US Trade Act of 1974, the first time this law has been used, allowing tariffs for up to 150 days to address balance-of-payments deficits, though some goods are exempt.
- The ruling and new tariffs have created uncertainty around existing US trade deals with countries like the UK, India, the EU, and Southeast Asian nations, as it is unclear whether negotiated
