U.S. President Donald Trump’s new blanket tariffs came into force on Tuesday — but investors appear to be shrugging the changes off, with one analyst telling CNBC they were “bigger issues.”
Trump announced over the weekend that a new, blanket 15% global levy on imports to the U.S. The president initially announced plans to impose a 10% duty on global imports, before saying that the rate would rise “to the fully allowed, and legally tested, 15% level.”
The announcement came after the U.S. Supreme Court struck down Trump’s country-specific tariffs — a source of major market volatility when they were first unveiled by the White House last April.
Section 122 of the 1974 Trade Act empowers the president to implement tariffs of up to 15% for up to 150 days.
Trump said in a Truth Social post that any country that wants to “play games” with the Supreme Court decision “will be met with a much higher tariff.”
