In a significant development for international trade, Jamieson Greer, the United States trade representative, has announced that US tariffs could escalate to 15% or higher for certain countries. This potential increase follows a recent Supreme Court ruling that dealt a blow to former President Donald Trump's trade policies.
Supreme Court Ruling Sparks Tariff Adjustments
The backdrop to this announcement is a legal setback for the Trump administration. Last week, the US Supreme Court struck down the sweeping "liberation day" tariffs that had been imposed last year. In response to this judicial defeat, Donald Trump announced a new 10% global tariff, which took effect this week.
Greer's Warning on Rising Tariffs
During an interview on Fox Business Network's Mornings with Maria program, Jamieson Greer elaborated on the situation. He stated, "Right now, we have the 10% tariff. It'll go up to 15% for some and then it may go higher for others, and I think it will be in line with the types of tariffs we've been seeing." Greer did not specify which trading partners might be affected or provide further details on the timeline for these increases.
The US Customs and Border Protection agency has issued a notice confirming the imposition of an additional 10% ad valorem duty on imported articles from every country. This measure is set to last for 150 days starting from Tuesday, unless specific exemptions are granted.
Trump's Previous Threats and Legal Challenges
Donald Trump has previously hinted at raising tariff levels to 15% through social media posts, aligning with Greer's recent comments. Meanwhile, the business community is reacting to these developments. In a separate legal action, FedEx filed a lawsuit against the US government on Monday, seeking a refund for tariffs paid in light of the Supreme Court decision.
This unfolding scenario highlights the ongoing volatility in US trade policy under the current administration. As tariffs potentially climb, international markets and domestic businesses are bracing for impact, with further updates expected in the coming weeks.
