Trump said he planned to impose a new 10% global tariff under a never-used law known as Section 122

The BBC is learning new details about Trump’s plans to impose new tariffs that could, essentially, replace those struck down by today’s ruling.

In a press conference after the decision was released, Trump said he planned to impose a new 10% global tariff under a never-used law known as Section 122, which gives him the power to put in place tariffs up to 15% for 150 days (at which point Congress must step in).

That, along with the ruling, raised questions about the fate of trade deals many countries struck with the Trump administration to lower tariffs last year.

Late Friday afternoon, a White House official said countries that previously reached trade deals with the US, including the UK, India and the EU, will now face the global 10% tariff under Section 122 rather than the tariff rate they had previously negotiated. Most UK goods had been subject to a 10% “baseline” rate., external

The Trump administration expects those countries to keep abiding by the concessions they had agreed to grant in the trade deals, the official added.

Source: bbc.com