Trump Raises Global Tariffs to 15%, Vows to Make America "Greater Than Ever"

In a post on his social media handle Truth Social, Trump also said that during "the next short number of months", his Administration will determine and issue the new and legally permissible Tariffs, which will continue "the extraordinarily successful process of Making America Great Again".

"Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been 'ripping' the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level," Trump said.

"During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of Making America Great Again - GREATER THAN EVER BEFORE!!! Thank you for your attention to this matter. President DONALD J. TRUMP," the post added.

In a major blow to Trump's signature trade policy, the US Supreme Court on Friday ruled against most of his sweeping tariff measures. Trump later signed an order making 10 per cent global tariff on all countries, effective "almost immediately"

.A White House official told ANI on Friday that India is expected to pay this tariff, and this new tariff will remain in place until another authority is invoked, emphasising the expectation that trade partners abide by US trade deals."Yes, 10% until another authority is invoked," the White House Official stated when asked whether India will have to pay 10 per cent tariffs and whether they will replace previous tariffs under the International Emergency Economic Powers Act (IEEPA).

The official also advised all the trade partners to abide by the trade deals.

The US Supreme Court ruled 6-3 that the Trump administration exceeded its legal authority by using the International Emergency Economic Powers Act (IEEPA) of 1977 to impose broad-based import tariffs.

Terming SC's ruling as a "terrible decision", Trump on Friday announced he would sign an executive order for a 10% global tariff under Section 122 of the Trade Act of 1974. This authority allows for a temporary import surcharge (up to 15%) for 150 days to address balance-of-payments deficits.

India and the United States had on February 7 announced that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement). The framework reaffirmed the countries' commitment to the broader US-India Bilateral Trade Agreement (BTA) negotiations, which will include additional market access commitments and support more resilient supply chains.

The Interim Agreement between the United States and India will represent a historic milestone in our countries' partnership, demonstrating a common commitment to reciprocal and balanced trade based on mutual interests and concrete outcomes, a joint statement said.

Key terms of the Interim Agreement included India eliminating or reducing tariffs on all US industrial goods and a wide range of US food and agricultural products, including dried distillers' grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.

It said the United States will apply a reciprocal tariff rate of 18 per cent under Executive Order 14257 of April 2, 2025, as amended, on originating goods of India, including textiles and apparel, leather and footwear, plastic and rubber, organic chemicals, home decor, artisanal products, and certain machinery. It also said that subject to the successful conclusion of the Interim Agreement, the US will remove the reciprocal tariff on a wide range of goods, including generic pharmaceuticals, gems and diamonds, and aircraft parts.

The US had earlier imposed a 50 per cent tariff on Indian goods, including a 25 per cent penalty for importing oil from Russia.

The government said earlier in the day that it is studying the implications of the US Supreme Court judgement on tariffs and the steps announced by the President Trump Administration.

"We have noted the US Supreme Court judgement on tariffs yesterday. President Trump has also addressed a press conference in that regard. Some steps have been announced by the US Administration. We are studying all these developments for their implications," the Commerce and Industry Ministry said in a brief statement.

- ANI