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US Trade Representative: "Global Import Tariff" Rate on Certain Countries May Reach 15%
On February 25, U.S. Trade Representative Katherine Tai stated that the “global import tariffs” imposed by the United States on some countries will be raised from the recently implemented 10% to 15% or higher, but she did not disclose any specific trade partners or other details. On the 20th, the U.S. Supreme Court ruled that the large-scale tariff measures implemented by the Trump administration under the International Emergency Economic Powers Act lacked clear legal authorization. That day, the Supreme Court upheld the lower court’s decision by a 6-3 vote, ruling that Trump’s use of the International Emergency Economic Powers Act to implement tariffs exceeded his statutory authority. The Supreme Court made this ruling in lawsuits filed by businesses and 12 U.S. states. These businesses and states argued that Trump’s unilateral imposition of import taxes based on this law was unprecedented. (CCTV News)