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WATCH: US Supreme Court strikes down Trump tariffs | Chief Justice John Roberts | CNBC TV18 Trump announced in his remarks that he will sign an order today to "impose a 10% global tariff under Section 122." He said this would be "over and above our normal tariffs already being charged." "We’re also initiating several sections, 301 and other investigations to protect our country from unfair trading practices of other countries and companies," he said. Trump said that all national security tariffs under Sec. 232 and Sec. 301 to remain in place. If implemented as Trump described it in his press conference, a 10% global tariff would be a major downgrade of the president's sweeping import duties. Moving all global trading partners to a 10% levy would cut tariffs on nearly all foreign nations, except the U.K. which secured a 10% tariff last year. However, that global tariff would not cut the duties on semiconductors, autos, car parts or pharmaceuticals which have been imposed under other legal authorities. U.S. President Donald Trump holds a news conference after the Supreme Court struck down Trump's far-reaching global tariffs, handing him a significant loss on an issue crucial to his economic agenda. The Supreme Court on Friday struck down a huge chunk of President Donald Trump’s far-reaching tariff agenda. The law that undergirds those import duties “does not authorize the President to impose tariffs,” the majority ruled six to three. Chief Justice John Roberts delivered the opinion of the court. Justices Clarence Thomas, Samuel Alito and Brett Kavanaugh dissented. Since retaking the White House, Trump has rapidly reshaped America’s longstanding trade relationships by imposing a staggering array of import duties that have touched nearly every country on earth. Many of those tariffs were invoked using a novel reading of the International Emergency Economic Powers Act, or IEEPA. They include Trump’s near-global “reciprocal” tariffs, and separate duties related to the alleged trafficking of deadly drugs into the U.S. #TRUMP #trumptariffs #uspolitics #whitehouse #usgovernment #livenews #cnbctv18 --------------------------------------------------------------------------------------------------------------------------------------------------------- Trump tariffs Supreme Court decision, Supreme Court strikes down Trump tariffs, Trump IEEPA tariffs illegal, reciprocal tariffs ruled illegal, Supreme Court blocks Trump tariffs, Trump emergency powers tariffs, global tariffs overturned, tariff refunds billions at risk, $175B tariff refunds, IEEPA ruling Supreme Court, Trump tariff authority limited, Supreme Court economic policy rebuke, 6-3 tariff ruling, unconstitutional Trump tariffs, importers seek tariff refunds, sweeping tariffs invalidated, emergency tariff powers rejected, Trump economic agenda setback, international trade tariffs ruling, Supreme Court tariff case 2026