Trump to Impose 10% Global Tariff After Supreme Court Defeat скачать в хорошем качестве

Trump to Impose 10% Global Tariff After Supreme Court Defeat

Bloomberg White House correspondent Kate Sullivan breaks down President Trump's reaction to the Supreme Court ruling that struck down the bulk of the tariffs he imposed last year. The president told press that the ruling was 'disappointing' but said that his administration has other measures to enact tariffs and announced he would impose a global 10% tariff.  President Donald Trump said he would sign an order imposing a 10% global tariff after the Supreme Court struck down the bulk of the levies he imposed last year, and pledged a raft of investigations that could allow him to enact more import taxes. “The Supreme Court did not overrule tariffs, they merely overruled a particular use of IEEPA tariffs,” Trump told reporters at the White House on Friday, referencing the emergency authorities that the high court found illegal. “Now I’m going to go in a different direction, probably the direction that I should have gone the first time.” Trump said he would pursue the baseline duty under Section 122 of the Trade Act of 1974, which grants the president unilateral ability to impose tariffs. But the untested legal provision — under which a president can impose up to 15% baseline tariffs — puts a 150-day limit on how long the duties can remain in place. Trump said he expected the new baseline rate to go into effect “three days from now.” Trump also said he’d launch additional investigations under Section 301 and Section 232, which he has previously used to place duties on Chinese exports, automobiles and metals. He suggested that those investigations could be carried out while the 10% baseline was in place, and eventually replace them — though he declined to rule out whether he could also seek a renewal of the Section 122 levies. Trump said he was eyeing tariffs on foreign cars ranging from 15% to 30%. Trump opened his remarks by delivering a broadside against the Supreme Court, saying he was “ashamed of certain members” and that some of the justices were “frankly a disgrace to our nation.” The court ruled 6-3 that Trump had exceeded his authority by invoking a federal emergency-powers law to impose his so-called “reciprocal” tariffs across the globe, as well as targeted import taxes the administration has said address fentanyl trafficking. Two justices appointed by Trump in his first term — Neil Gorsuch and Amy Coney Barrett — joined the majority in striking down the tariffs. The justices didn’t address the extent to which importers are entitled to refunds, leaving it to a lower court to sort out those issues. If fully allowed, refunds could total as much as $170 billion — more than half the total revenue Trump’s tariffs have brought in. he president argued that his tariff program is essential not only to draw manufacturing back to the US, but as a foreign policy tool. He said tariff threats have helped him to pressure countries to deescalate armed conflicts and credited negotiations over levies for attracting billions of dollars in planned foreign investments in the US.“Foreign countries that have been ripping us off for years are ecstatic. They’re so happy, and they’re dancing in the streets — but they won’t be dancing for long,” Trump said. Trump said he would continue to pursue trade negotiations, using the looming tariffs as leverage with trading partners, and that he expected existing deals to remain in place — albeit some after being reworked. The president also said his team had already had spoken to some representatives from foreign governments — including Canada and Vietnam — who expressed concern that the case could result in a higher tariff rate. “All we’re doing is we’re going through a little bit more complicated process, not complicated very much, but a little more complicated than what we had,” Trump said. “We’ll be able to take in tariffs, more tariffs.” The ruling ratchets up the drama for Tuesday night’s State of the Union address, which the president has already said would focus on the economy. Many of the Supreme Court justices traditionally attend the speech; next week they could have a front-row seat to hear the president’s reaction to their ruling. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X:   / bloombergradio   Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts:    / bloombergpodcasts   Bloomberg Television:    / @markets   Bloomberg Originals:    / bloomberg   Quicktake:    / @bloombergquicktake