United Kingdom

country

Last mentioned: 7h ago

Timeline

  1. Implementation Date

    Scheduled start for the new temporary global tariff regime.

  2. 15% Escalation

    Trump announces 15% tariff via Section 122 on Truth Social.

  3. Supreme Court Ruling

    SCOTUS strikes down IEEPA tariffs as unconstitutional revenue generation.

  4. Liberation Day

    Global tariffs of 10-50% expanded to nearly all countries under IEEPA.

  5. Initial IEEPA Invocation

    Trump imposes tariffs on China, Mexico, and Canada citing fentanyl emergency.

Stories mentioning United Kingdom 1

Financial Regulation Bearish

Trump Escalates Global Trade War with 15% Tariff After Supreme Court Rebuff

The US Supreme Court struck down President Trump’s previous global tariffs as an unconstitutional overreach of executive power, prompting an immediate pivot to a 15% levy under the 1974 Trade Act. This legal maneuver sets up a five-month window of heightened trade tension before requiring Congressional intervention, potentially triggering $130 billion in refund claims.

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