US President Donald Trump…Photo /courtesy

By IP reporter

WASHINGTON

 A new 10% global tariff announced by former U.S. President Donald Trump took effect Tuesday, reviving an aggressive trade policy agenda after a recent court setback.

The levy follows a ruling by the U.S. Supreme Court that struck down earlier sweeping tariffs imposed under emergency powers, prompting the administration to rely on alternative legal authority to reinstate broad import duties.

The 10% tariff applies to most imported goods unless exemptions are granted under existing trade arrangements.

Officials say the measure is intended to protect American manufacturing and reduce trade imbalances.

Economic Effects

Economists warn the tariff could raise consumer prices, particularly on electronics, machinery, clothing and automotive parts that rely on global supply chains.

Importers are likely to pass higher costs to retailers, potentially fueling inflation at a time when households remain sensitive to price increases.

Business groups caution that retaliatory tariffs from key trading partners could hurt U.S. agricultural exports and industrial goods.

Financial markets have reacted cautiously, with analysts noting that prolonged trade tensions could dampen global growth and unsettle currency markets.