Trump Tariffs Update: 10% blanket Tariffs on Import: What Its means Explained

Trump Tariffs Live Updates: US President Donald Trump has announced an additional 10% tariff on all imports into the US. Previously, the US Supreme Court struck down several of his large and arbitrary duties, drawing sharp criticism for his signature “America First” economic policy. After signing the new tariff order, Trump stated on social media that it went into effect “almost immediately” – last year, he had imposed varying rates to appease and punish both friendly and enemy countries.

According to a White House factsheet, the new duties will be effective for 150 days starting February 24th, with exemptions for sectors under separate scrutiny, including pharmaceuticals and goods entering the US under the US-Mexico-Canada Agreement. The White House stated that US trading partners that had entered into tariff deals with the Trump administration will also face the 10% duty, even if they had previously agreed to a higher level.

But a White House official told AFP that the Trump administration would look for ways to “impose more fair or predetermined tariff rates” going forward.

Trump later said the Supreme Court’s decision would change “nothing” about the India-US trade deal. “They’ll pay tariffs, and we won’t. So the deal with India is that they pay tariffs… Now it’s a fair deal, and we’re not paying them tariffs, and they’re paying them tariffs. We’ve backtracked a little bit… The India deal is done… All the deals are done, we’re just going to do it a different way,” Trump said.