Ammon News - U.S. President Donald Trump moved swiftly on Friday to replace tariffs struck down by the Supreme Court with a temporary 10% global import duty for 150 days and ordered new investigations under other laws that could allow him to re-impose the tariffs.

Trump signed executive orders late on Friday to impose new tariffs starting on Tuesday under Section 122 of the Trade Act of 1974, partly replacing tariffs of 10% to 50% under the 1977 International Emergency Economic Powers Act that the top court declared illegal, and ending collection of the now-banned duties.

Trump's Treasury Secretary, Scott Bessent, said the new 10% duties and potentially enhanced tariffs under the Section 301 unfair practices statute and the Section 232 national security statute would result in virtually unchanged tariff revenue in 2026.

The 10% tariff order justified use of the Section 122 statute, noting that the U.S. had a "large and serious balance of payments deficit" and said the situation was getting worse.

FASTER INVESTIGATIONS
Trump's shift to other statutes, including Section 122, while initiating new investigations under Section 301 had been widely anticipated, but these have often taken a year to complete.

The 10% tariffs only last five months, but Trump said that would allow his administration to complete investigations to enhance tariffs.

Asked if rates would ultimately end up being higher after more probes, Trump said: "Potentially higher. It depends. Whatever we want them to be."

He said some countries "that have treated us really badly for years" could see higher tariffs, whereas for others, "it's going to be very reasonable for them."

Reuters