US President Trump says effectively immediately, all national security tariffs under 232 and 301 remain in place. 10% global tariff to be imposed on top of other tariffs
President Trump's decision to impose a 10% global tariff immediately, alongside the reaffirmation of existing national security tariffs, signals a significant escalation in protectionist trade measures.
US President Trump reiterates criticisms of Fed Chair Powell; says rates should come down substantially
Fed's Goolsbee (2027 voter) says he is more comfortable that the labour market is stabilising
US President Trump says effectively immediately, all national security tariffs under 232 and 301 remain in place. 10% global tariff to be imposed on top of other tariffs
US President Trump says tariff ruling is deeply disappointing, he is ashamed of certain members of the court; Foreign countries will be happy and dancing, but not for long
NY Fed RRP Op demand at USD 0.5bln (prev. 0.6bln) across 4 counterparties (prev 4)
Open the platform and use it. The whole workspace is free to try, with no signup and no card. When you want the headlines arriving live instead of on a delay, Newsquawk Pro is £24.99 for 7 days.
- Several investigations will be initiated.
- Starting 301 probes to protect their country.
- Truth Post at same time he spoke: "effective immediately, all National Security TARIFFS, Section 232 and existing Section 301 TARIFFS, remain in place, and in full force and effect. Today I will sign an Order to impose a 10% GLOBAL TARIFF, under Section 122, over and above our normal TARIFFS already being charged, and we are also initiating several Section 301 and other Investigations to protect our Country from unfair Trading practices."
- Says he does not need to ask congress for tariffs.
- Criticises Canada, Mexico and Taiwan.
- Threatens 15-30% auto tariffs.
- Will see country and economy grow. We now have certainty on trade.
- Alternatives are more complicated. It will take time. But end result will be great, with the US taking more money.
- Asked if US has to refund tariff revenue, says "I guess it has to be litigated!".
- If US has to refund tariff revenue, will end up in court for the next five years.
- 10% extra tariff is immediate (three days from now). Over five months, they will investigate countries to determine a fair tariff rate on other countries.
- Met with the Vietnamese leader, who said more US tariffs could be imposed.
- Some trade deals negotiated under IEEPA do not stand.
- Nothing changes with India.
- Many of the trade deals stand, some won't they will be replaced.
Full Post: "To show you how ridiculous the opinion is, the Court said that I’m not allowed to charge even $1 DOLLAR to any Country under IEEPA, I assume to protect other Countries, not the United States which they should be interested in protecting — But I am allowed to cut off any and all Trade or Business with that same Country, even imposing a Foreign Country destroying embargo, and do anything else I want to do to them — How nonsensical is that? They are saying that I have the absolute right to license, but not the right to charge a license fee. What license has ever been issued without the right to charge a fee? But now the Court has given me the unquestioned right to ban all sorts of things from coming into our Country, a much more powerful Right than many people thought we had. Our Country is the “HOTTEST” anywhere in the World, but now, I am going in a different direction, which is even stronger than our original choice. As Justice Kavanaugh wrote in his Dissent: “Although I firmly disagree with the Court's holding today, the decision might not substantially constrain a President's ability to order tariffs going forward. That is because numerous other federal statutes authorize the President to impose tariffs and might justify most (if not all) of the tariffs issued in this case...Those statutes include, for example, the Trade Expansion Act of 1962 (Section 232); the Trade Act of 1974 (Sections 122, 201, and 301); and the Tariff Act of 1930 (Section 338).” Thank you Justice Kavanaugh! In actuality, while I am sure they did not mean to do so, the Supreme Court’s decision today made a President’s ability to both regulate Trade, and impose TARIFFS, more powerful and crystal clear, rather than less. There will no longer be any doubt, and the Income coming in, and the protection of our Companies and Country, will actually increase because of this decision. Based on longstanding Law and Hundreds of Victories to the contrary, the Supreme Court did not overrule TARIFFS, they merely overruled a particular use of IEEPA TARIFFS. The ability to block, embargo, restrict, license, or impose any other condition on a Foreign Country’s ability to conduct Trade with the United States under IEEPA, has been fully confirmed by this decision. In order to protect our Country, a President can actually charge more TARIFFS than I was charging in the past under the various other TARIFF authorities, which have also been confirmed, and fully allowed. Therefore, effective immediately, all National Security TARIFFS, Section 232 and existing Section 301 TARIFFS, remain in place, and in full force and effect. Today I will sign an Order to impose a 10% GLOBAL TARIFF, under Section 122, over and above our normal TARIFFS already being charged, and we are also initiating several Section 301 and other Investigations to protect our Country from unfair Trading practices. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN! PRESIDENT DONALD J. TRUMP"
This move may impact various asset classes including currencies like the USD and EUR, as well as commodities such as gold and crude oil, potentially altering market dynamics and inflation expectations.
Related headlines
- US Daily Equity Opening News - MSFT to report quarterly Azure sales; AVGO and HPE fall on outlooks; SNOW surges on earnings beat2 hours ago
- US EQUITY OPEN: Dovish Waller helps push indices higher although AVGO guidance underwhelms1 hour ago
- PRIMER - Today’s Fedspeak includes: Waller, Hammack, Goolsbee3 hours ago
- US President Trump clarifies that Commerce Secretary Lutnick had Venezuela on his mind when he said nobody was killed, adds that 18 people were killed in Iran3 hours ago
- US President Trump posts image of 20mln BPD through the Hormuz vs. 18mln BPD before3 hours ago
- Ukrainian Navy says it struck a Russian support vessel in Sochi port3 hours ago
- Russian Deputy PM Novak says Russia's gas supplies to China will reach 50bln cubic metres this year, reports Tass3 hours ago
- Israeli Defence Minister Katz says the military will target all of Iran's infrastructure, including energy; an Iranian attack would free Israel from its existing limits4 hours ago
- Russian President Putin says attacks on three oil refineries have been repelled; adds that Russia must respond in kind5 hours ago
- US President Trump's administration is reportedly ratcheting up its fight to get more oil flowing from California, AP News reports48 min ago
- Russian Deputy PM Novak says Russia is experiencing some gasoline shortages4 hours ago
- [MARKET UPDATE] Dovish reaction as Fed's Waller leans towards hold in September, albeit very much data dependent; T-notes, stocks and gold move higher with the dollar sold; Pricing is back to 50/50 for hold/hike1 hour ago
- Fed's Waller (voter) to support holding policy rate steady at September FOMC meeting if August inflation data shows continued progress2 hours ago
- BoJ accounts show there was no large-scale yen intervention on Wednesday5 hours ago
- Fed Governor Waller (Voter) says with CPI and PPI in hand, have a pretty accurate view of PCE inflation2 hours ago
- Nvidia (NVDA) confirms it is to acquire Hugging Face for USD 12.93bln; Hugging Face will remain an open platform2 hours ago
- Campbell's (CPB) Q4 2026 (USD): Adj. EPS 0.39 (exp. 0.40), revenue 2.14bln (exp. 2.15bln). Cuts quarterly dividend to accelerate debt reduction 3 hours ago
- [MARKET UPDATE] Gradual strength in the crude complex has put pressure on the fixed income space, with US equity futures also moving a touch lower; action which lacks a clear driver5 hours ago
- US Trade Balance (Jul) -88.60B vs. Exp. -90B (Prev. -73.30B)2 hours ago
- Polestar (PSNY) Q2 2026 (USD): Revenue 727mln (exp. 865mln)3 hours ago
The whole workspace, free to try.
Try it free