Decisions Donald Trup regarding objective It's a real rollercoaster for many entrepreneurs. As the co-founder of a British costume company told the BBC, when Trump announced the tariffs last April, tariffs on his company's products rose from zero to 30%. Then they increased to 100 percent, then to 145 percent, and finally to 30 percent. Later it was changed to 20 percent. and for a few hours on Friday after the Supreme Court's ruling was announced, they were zero again. They then increased to 10%, and on Saturday – to 15%.
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“We've had to deal with a huge amount of turmoil and uncertainty,” Fraser Smeaton told the BBC. He is the co-founder of a British costume company that exports approximately 60 percent. their products to the USA.
Tariffs are taxes on imported goods. The tax is paid to the government by companies importing foreign products.
On Friday The US Supreme Court ruled that the US president exceeded his powersintroducing a sweeping global tariff program. The ruling concerns only Trump's invocation of the 1977 International Emergency Economic Powers Act (IEEPA), which formed the basis for most of the tariffs he imposed.
See also: A huge blow to Donald Trump. Investors opening champagne?
Immediately after the Supreme Court issued its ruling, the US president announced first 10 percent and then 15 percent. global duty.
On what basis did he do this? He invoked Article 122 of the Trade Act of 1974. This solution allows the president to impose tariffs of up to 15 percent. for import from all countries, but for a period of up to 150 days.
“Trump's economic slaughter”
Senate Democratic leader Chuck Schumer warned on Monday that Democrats would block any attempt to extend the 150-day tariffs. “Senate Democrats will continue to oppose Trump's tariffs and will block any attempt to extend these harmful tariffs when they expire this summer.” Schumer said in a statement. “Democrats will not join Trump's further economic slaughter.”
Will Congress block Trump's tariffs? “I don't have to”
In a Monday entry on the Truth Social website, the US president stated that he did not need Congress' consent to introduce tariffs.
“As president, I don't have to go back to Congress to get approval for tariffs. It has long been obtained, in many forms!” – he wrote. “They were also confirmed by the absurd and ineffectively worded decision of the Supreme Court,” he added.
Trump: Buyers beware
US President Donald Trump warned on Monday that he would impose even higher tariffs on countries that “toy with” existing trade agreements, following the Supreme Court's decision.
“Any country that wants to 'toy with' the Supreme Court's absurd decision, especially those that have 'stealed' from the United States for years or even decades, will face much higher and even worse tariffs than those it recently agreed to,” he wrote on Truth Social. “Beware, buyers,” he added.
Donald Trump vs. Congress
For now, Trump supporters have a slim majority in both houses of Congress. However, midterm elections will be held on November 3, 2026. Will be selected, among others: the new House of Representatives and one third of the 100 seats in the Senate.
Source: BBC
