President Donald Trump has this morning imposed a devastating 10 per cent tariff on all imports into the United States after the US Supreme Court struck down his signature economic policy.
The conservative-majority top court ruled six-three that a 1977 law known as the International Emergency Economic Powers Act(IEEPA) Mr Trump has relied on “does not authorize the president to impose tariffs.”
Mr Trump, who had nominated two of the justiceswho repudiated him, responded furiously, alleging without any evidence that the court was influenced by foreign interests.
US President Donald Trump speaks during a press conference. (Photo by Mandel NGAN / AFP)
“I’m ashamed of certain members of the court, absolutely ashamed, for not having the courage to do what’s right for our country,” Mr Trump told reporters.
Mr Trump said he would use a separate authority to impose a uniform tariff of 10 percent — after he spent the past year imposing various rates spontaneously to cajole and punish other countries.