Source: Oleoscope (Russia)
US trade war escalation continues as President Donald Trump has imposed new global import tariffs of 10%. Moreover, according to the Financial Times, citing a notice from US Customs, this marks a significant shift in trade policy.
US Trade War Escalation: Implementation Details
The tariffs took effect at 12:01 a.m. on Tuesday, Eastern Time (8:01 a.m. Moscow time). Furthermore, the US Customs and Border Protection Service informed importers that the duty rate in the first stage will be 10% and will apply to all countries for 150 days, unless exceptions are provided. The White House confirmed this information. Additionally, they noted that the president’s administration is working to raise tariffs to 15%, but this will require a separate executive order.
Legal Basis and Previous Ruling
Earlier, the US Supreme Court ruled by a majority vote that Trump’s decision to impose tariffs on goods from a large number of countries in 2025 was illegal. Consequently, Trump decided to raise tariffs on imports from all countries in the world, first to 10% and then to 15%.
In this case, he used the 1974 Trade Act, which allows such tariffs to be imposed for a period of 150 days. Meanwhile, last year’s decision, which was ruled illegal, was based on the International Emergency Economic Powers Act (IEEPA) passed in 1977.
Exemptions and International Response
Announcing the introduction of 10% tariffs on Friday, the White House said that these measures would not apply to a wide range of goods. Specifically, this includes goods from Canada and Mexico.
Analysts note that this latest change in Washington’s policy will allow states and businesses to once again embark on a path of revising relations and achieving exemptions and preferences.
Earlier, it became known that China and the US had reached an agreement. Furthermore, China promised to purchase the entire previously promised volume of 12 million tons of soybeans from America.