10% tariffs come into force in the US, 15% threat creates uncertainty

The 10% global tariffs, announced by Donald Trump on Friday, came into force this Wednesday, February 24th.

That day, the U.S. Supreme Court declared illegal customs tariffs announced against almost all countries in the worldannounced on April 2 last year, by the president. In response, Trump enacted 10% global tariffs.

It was already on Saturday that the threatened to increase tariffs by up to 15%. The announcement was made through the social network Truth Social. Although, no order to this effect came into force until midnight from Tuesday to Wednesday. That said, 10% tariffs are now in effect.

These focus on the imports of goods and services arriving from any country into the United States.

In this context, the climate of uncertainty among businesspeople and investors grows. Furthermore, some of the USA’s main trading partners suspended with immediate effect negotiations aimed at a trade agreement. It was the case of European Union and India.

Trump makes use of article 122 of the 1974 Trade Law, which allows the head of state to impose tariffs for a period of up to 150 days (about six months), without approval from the North American Congress.