Washington : In a move expected to shake global markets, U.S. President Donald Trump announced an increase in tariffs on imported goods, raising the rate from 10 percent to 15 percent for several countries. The announcement, made via social media, comes as part of Trump’s ongoing efforts to address what he calls decades of unfair trade practices against the United States.
Trump stated that some countries have long exploited U.S. trade policies, and the tariff hike is intended to level the playing field. He also noted that the American government will formally determine and implement new, legally authorized tariffs over the coming months.
Earlier, Trump had signed an executive order imposing a 10 percent tariff on imported goods from all countries, scheduled to last 150 days. Certain goods were excluded from the tariff, including minerals, metals, fertilizers, energy equipment, agricultural products, medicines, and raw materials for pharmaceuticals. The new 15 percent tariff will similarly not apply to goods traded under the US-Mexico-Canada Agreement (USMCA).
The move follows a ruling by the U.S. Supreme Court that declared some of Trump’s previous tariffs on foreign nations illegal. Nevertheless, the administration is moving forward with measures it says are within legal boundaries.
Experts warn that the higher tariffs could impact global trade, potentially raising costs for importers and consumers alike. The decision underscores Trump’s ongoing focus on prioritizing American economic interests and rebalancing trade relationships around the world.
