The United States' trade policy is facing significant uncertainty after a recent US supreme court setback, with the country's trade representative, Jamieson Greer, warning that tariffs may climb from 10% to 15% or higher for some countries. This development comes amid a complex and evolving trade landscape, with the US government having recently imposed a 10% global tariff in response to the court's decision.
Greer's comments, made during an interview on Fox Business Network's Mornings with Maria program, suggest that the US tariff rate will increase for some countries, although he did not specify which ones or provide further details. As he noted, "Right now, we have the 10% tariff. It'll go up to 15% for some and then it may go higher for others, and I think it will be in line with the types of tariffs we've been seeing."
The US supreme court's decision last week struck down President Donald Trump's sweeping "liberation day" tariffs, which were imposed last year. In response, Trump announced a 10% global tariff, as reported by The Guardian. According to a notice from the US customs agency, an additional 10% ad valorem duty on imported articles from every country has been imposed for a period of 150 days, unless specifically exempt.
Trump has previously threatened to raise the tariff level to 15% via social media posts, adding to the uncertainty surrounding US trade policy. The situation has also prompted a response from FedEx, which sued the US government on Monday seeking a refund for the tariffs after the supreme court decision.
The developments in US trade policy have significant implications for the global economy, with businesses and investors closely watching the situation. As the US government navigates the complexities of its trade relationships, it remains to be seen how the tariff rates will evolve and what impact this will have on international trade.
