US President Donald Trump has immediately imposed a 10% tariff on all countries, and the president has signed an executive order in this regard.
According to the White House, a 10% duty will be imposed on goods imported into America for 150 days, with certain items exempt from this temporary duty.
Exempt items include minerals, fertilizers, metals, and energy equipment. Agricultural products, medicines, and pharmaceutical raw materials will also be exempt from import duties, and the new duty will not apply to the US-Mexico-Canada Agreement.
Previously, the US Supreme Court had declared President Trump’s additional tariffs on other countries illegal, stating that the law under which Trump imposed these tariffs was made for national emergencies and does not allow Trump to impose additional tariffs.
Reacting to the court decision, Trump said that certain specific members of the court should feel ashamed, the world will be happy with the decision but this happiness won’t last long, and profits from tariffs will increase further.
Describing the decision as disappointing, Trump had announced imposing a 10% tariff on the entire world.
