XPost: or.politics, or.general   
   From: mail-a-long@hmn.com   
      
   Trump announces new 10% global tariff after raging over Supreme Court loss   
      
   Supreme Court strikes down Trump's sweeping tariffs   
      
   President Donald Trump on Friday evening said he signed an executive order   
   imposing a new 10% "global tariff, " hours after the Supreme Court struck   
   down his sweeping "reciprocal" import duties in a major rebuke of his trade   
   agenda.   
      
   The "Section 122" tariffs will take effect "almost immediately, " Trump   
   said in a Truth Social post.   
      
   They come on top of the levies that remain intact following the high   
   court's decision, which invalidated the tariffs Trump had imposed using the   
   International Emergency Economic Powers Act, or IEEPA.   
      
   At a White House press briefing Friday afternoon, Trump railed against the   
   "deeply disappointing" 6-3 ruling.   
      
   "I'm ashamed of certain members of the court, absolutely ashamed for not   
   having the courage to do what's right for our country, " Trump said.   
      
   The ruling threw out the legal underpinning for many of the tariffs that   
   Trump insists are essential for the U. S. economy and for rebuilding   
   America's shrinking manufacturing base.   
      
   Trump's reciprocal tariffs and his drug-trafficking-related duties both   
   hinged on his administration's expansive interpretation of IEEPA. But the   
   court's majority ruled Friday that IEEPA "does not authorize the President   
   to impose tariffs. "   
      
   The new 10% global tariffs, which come with a 150-day time limit, will   
   effectively replace the IEEPA duties, a White House official told CNBC   
   later Friday.   
      
   That could mean lower U. S. tariff rates for some of the countries that had   
   either struck trade deals with the Trump administration, or were in ongoing   
   trade talks.   
      
   That's because many of those countries and regions had faced U. S. tariffs   
   higher than 10% as part of those agreements. The European Union, for   
   example, agreed to a 15% tariff as part of its trade deal with the U. S.   
      
   Those tariffs were largely implemented under IEEPA, meaning they were   
   invalidated as a result of the Supreme Court's ruling.   
      
   The shake-up could be significant for China, which faced two sets of 10%   
   IEEPA-based U. S. tariffs in addition to a 25% duty that remains in effect.   
   Those IEEPA tariffs will be replaced by Trump's new global tariff, bringing   
   China's total rate of 35%, the White House official told CNBC.   
      
   Fuehrer Trump was adamant that he will find other ways to impose tariffs   
   without Congress. And the White House official noted that as the   
   administration works through additional legal tariff pathways, the rates   
   imposed on individual countries may snap back to their higher levels.   
      
   When asked at Friday's press briefing why he did not want to work with the   
   legislative branch, Trump said, "I don't have to. I have the right to do   
   tariffs. "   
      
   Trump's remarks vacillated between defiant and scathing. He even went after   
   Justices Neil Gorsuch and Amy Coney Barrett, whom he nominated, after they   
   voted with the majority.   
      
   "I think their decision was terrible, " Trump said. "I think it's an   
   embarrassment to their families, you want to know the truth. The two of   
   them. "   
      
   The new tariff order invokes Section 122 of the Trade Act of 1974. Tariffs   
   created using that statute can last for only 150 days, with any extension   
   requiring congressional approval.   
      
   Asked at the press briefing about that time limit and about getting   
   congressional buy-in, Trump said, "We have the right to do pretty much what   
   we want to do. "   
      
   Trump also declared that all the tariffs active under statutes known as   
   Section 232 and Section 301 will remain "in full force and effect. "   
      
   The Trump administration is also wielding Section 301 to launch several   
   investigations into possible unfair trade practices, which could result in   
   additional new tariffs, Trump said.   
      
   Most of the U. S. tariff revenue generated last year came from the IEEPA   
   duties.   
      
   "Other alternatives will now be used to replace the ones that the court   
   incorrectly rejected, " Trump said Friday.   
      
   "We'll take in more money, and we'll be a lot stronger for it, " he said.   
      
   Treasury Secretary Scott Bessent, speaking at the Economic Club of Dallas   
   shortly after Trump, said that the administration will replace the rejected   
   IEEPA tariffs by leveraging a number of other existing tariff laws.   
      
   Doing so "will result in virtually unchanged tariff revenue in 2026, "   
   Bessent said. "No one should expect that the tariff revenue will go down. "   
      
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