Trump announces 10% tariff on imports from all countries

Global tariff 'will be effective almost immediately,' says president

US President Donald Trump said Friday that he has signed documents imposing a 10% tariff on all imports from every country. “It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately," Trump wrote on his Truth Social platform. The move came after the US Supreme Court struck down most of Trump's tariffs. In a 6-3 ruling, the court said Trump exceeded his authority when imposing sweeping tariffs using a law reserved for a national emergency. In a separate post, Trump called the court's decision “ridiculous” and asserted that the US would continue to seek ways to increase revenue. "Those members of the Supreme Court who voted against our very acceptable and proper method of tariffs should be ashamed of themselves. "Their decision was ridiculous but, now the adjustment process begins, and we will do everything possible to take in even more money than we were taking in before!" he added.   Proclamation imposes 10% import duty for 150 days The White House said Trump signed a proclamation imposing a temporary import duty, which will take effect Feb. 24 at 12.01 EST (0501GMT) and is set to remain for 150 days. Certain goods will be exempt from the temporary tariff to protect the US economy and ensure the measure effectively addresses payment imbalances. According to the fact sheet released by the White House, exemptions include critical minerals, metals, energy and energy products, agricultural products such as beef, tomatoes, and oranges, pharmaceuticals and related ingredients, certain electronics, aerospace products, vehicles, and informational materials like books. It said, in addition, the following goods will not be subject to the temporary import duty: goods already covered under Section 232, USMCA-compliant imports from Canada and Mexico, and duty-free textiles from Central American countries. In a parallel action, Trump also extended the suspension of duty-free de minimis treatment for low-value shipments, ensuring the shipments are also subject to the temporary import duty.