#TrumpNewTariffs Donald Trump has imposed new tariffs, effective immediately, with significant implications for global trade. Here's what's happening:

- *Global Tariff Increase*: Trump raised the global tariff rate from 10% to 15%, applicable to all trading partners, under Section 122 of the Trade Act of 1974.

- *Duration*: The 15% tariff will last for 150 days unless extended by Congress, creating uncertainty for global trade partners and industries.

- *Supreme Court Ruling*: The US Supreme Court ruled that Trump's use of emergency powers to impose tariffs under the International Emergency Economic Powers Act (IEEPA) was illegal, leading to the new tariff announcement ¹ ² ³.

The tariffs aim to protect American industries, but critics argue they'll harm consumers and spark trade wars. The economic impact is expected to be significant, with potential job losses and inflation ⁴.

Would you like to know more about the potential impact on specific industries or countries?