In a dramatic escalation of global trade tensions, former President Donald Trump has abruptly increased a newly imposed global tariff from 10% to 15%, directly upending a key trade deal with the United Kingdom. This swift action came less than a day after the Supreme Court struck down his previous tariffs levied under the International Emergency Economic Powers Act (IEEPA). In response, Trump invoked Section 122 of the 1974 Trade Act to establish a new 10% duty, only to raise it hours later. Unlike the IEEPA tariffs, Section 122 mandates that duties be applied uniformly across all trading partners, nullifying the preferential 10% rate secured by the UK in a prior deal and effectively placing it on equal footing with partners like the European Union and Japan, which had agreed to 15% rates. Economists note this move delivers a significant blow to the UK, which had adopted a conciliatory approach, while highlighting the legal requirement for non-discriminatory application under the new authority.
The legal and economic ramifications of this shift are complex. While experts suggest Section 122 tariffs also face legal challenges, any court battle could take months to resolve, and the law limits their duration to a maximum of five months. Economically, the headline increase to 15% is mitigated by broad exemptions carried over from the previous tariff regime. According to analysis by Capital Economics, the effective tariff rate will only rise approximately 2 percentage points, from 12.5% to 14.5%, slightly above the pre-Supreme Court ruling level. This indicates that, despite the aggressive posturing, the immediate economic impact may be less severe than the nominal rate suggests. However, the sudden policy reversal introduces profound uncertainty for international businesses and allies, undermining the stability of existing trade agreements.
Looking ahead, the administration signals that further trade actions are imminent. Trump announced the initiation of investigations under Section 301 of the 1974 Trade Act, a provision used to combat unfair trade practices. These investigations, which could target specific countries or sectors, must be completed before new tariffs can be enacted—a process that may take two to three months even under an expedited timeline. This sets the stage for a new wave of targeted trade measures later this year, extending the period of economic uncertainty. The combination of a broad, uniform tariff and pending targeted investigations represents a two-pronged strategy that continues to prioritize unilateral trade tools, reshaping global trade dynamics and testing diplomatic relationships.
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Forrás: https://finance.yahoo.com/news/trump-sudden-decision-hike-tariff-234458984.html.