Global markets were thrown into turmoil after Donald Trump signed new 10% tariffs on goods from around the world, hours after the Supreme Court of the United States struck down much of his previous trade policy.
The President blasted, “I can do whatever I want.”
The defiant move comes after the Court ruled Trump’s use of emergency trade powers under the International Emergency Economic Powers Act exceeded presidential authority.
Trump announced the new duties via Truth Social, writing, “It is my great honour… to sign a global 10 per cent tariff on all countries.”
Speaking to reporters, he added, “I can do anything I want… I can destroy the trade, I can destroy the country. But I can’t give them a little fee.”
The administration is invoking Section 122 of the Trade Act of 1974, meaning the tariffs can remain in force for roughly 150 days, which may influence market stability and trade planning.
Trump branded the Supreme Court decision a “disgrace” and criticised justices who opposed the White House position.
The court had ruled that previous “reciprocal” global tariffs could not be imposed under emergency economic legislation, highlighting the legal limits on executive power.
Analysts from ING Group warned the ruling will not bring trade calm, highlighting ongoing international concerns about US trade policies.
“Europe should not be mistaken — this ruling will not bring relief.”
Experts say future trade probes under other sections of US law could still target specific industries, indicating that trade policy remains dynamic and impactful.
The British government said it will work with Washington to assess the impact but expects Britain’s “privileged trading position” with the United States to continue.
