Last mentioned: 6h ago
Effective Date
The global tariffs are scheduled to take effect at 12:01 a.m. ET.
Rate Hiked to 15%
Trump increases the rate to 15%, citing Section 122 of the 1974 Trade Act.
SCOTUS Ruling Issued
The Supreme Court strikes down global reciprocal tariffs in a 6-3 vote.
Market Rally
Stoxx 600 hits record high; US stocks finish higher on refund prospects.
White House Response
President Trump lashes out at justices during a press briefing.
New Tariff Order
Trump signs executive order for a fresh 10% global tariff under Section 122.
SCOTUS Ruling
The U.S. Supreme Court invalidates Trump's previous tariff initiative, citing executive overreach.
10% Tariff Announced
Trump announces a 10% global tariff as an immediate reaction to the court's decision.
President Donald Trump has abruptly increased his proposed global tariff rate from 10% to 15%, the maximum allowed under Section 122 of the 1974 Trade Act. The move follows a Supreme Court ruling that invalidated his previous tariff framework, setting the stage for a 150-day window of heightened trade volatility.
The US Supreme Court's 6-3 ruling against the administration's 'reciprocal' tariffs has triggered a record-breaking rally in European markets and a surge in US equities. While the decision opens the door for billions in potential refunds, President Trump has immediately countered with a new 10% global levy under Section 122.