• Trump announces 10% global tariff following SCOTUS ruling The United States Supreme Court ruled on Friday that President Donald Trump could not use national emergency powers to levy tariffs during peacetime. • Cointelegraph in your social feed US President Donald Trump announced a 10% global tariff on Friday following the Supreme Court’s ruling striking down his authority to levy tariffs under the International Emergency Economic Powers Act (IEEPA). • Trump was critical of the Supreme Court’sdecision, calling the decision “ridiculous” at Friday’s pressconference, and said that he will levy the tariffs under different legal methods, including the Trade Expansion Act of 1962 and the Trade Act of 1974. • Trump said: Trump’s tariffs have repeatedlycaused severe downturnsin markets considered high risk, including crypto and equities, as the threat of tariffs fuels uncertainty and shakes investor confidence. • Related:Bitcoin ignores US Supreme Court Trump tariff strike amid talk of $150B refund The Supreme Court strikes down Trump’s authority to levy tariffs under emergency powers Trump levied a 25% tariff on most goods coming in from Canada and Mexico, and a10% tariff on goodscoming in from China under the IEEPA, framing both tariffs as a response to national security threats. • An influx of drugs from foreign countries created a “public health crisis,” according to Trump, while trade deficits with China threatened the industrial manufacturing base in the US, he alleged.

Article Summaries:

  • US President Donald Trump announced on Friday that he will impose a 10 % global tariff, citing the Supreme Court’s ruling that barred his use of the International Emergency Economic Powers Act (IEEPA) to levy such duties. Trump criticized the decision as “ridiculous” and said he will rely on other statutes, including the Trade Expansion Act of 1962 and the Trade Act of 1974, to enforce the tariffs. He reaffirmed that national‑security tariffs under Sections 232 and 301 remain in force. The court’s opinion underscored that the executive lacks IEEPA authority to impose tariffs during peacetime, a stance that has already shaken investor confidence in high‑risk markets.

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