WASHINGTON: US President Donald Trump on Monday warned countries against backing away from recently negotiated trade deals with the US after the Supreme Court struck down his emergency tariffs, saying that he would hit them with much higher duties under different trade laws.
Trump, in a series of social media posts, said he also may impose license fees on trading partners as uncertainty over his next tariff moves gripped the global economy and sent stocks lower.
“Any Country that wants to ‘play games’ with the ridiculous supreme court decision, especially those that have ‘Ripped Off’ the USA. for years, and even decades, will be met with a much higher Tariff, and worse, than that which they just recently agreed to. BUYER BEWARE!!!” Trump wrote on Truth Social.
Trump said that despite the court’s decision to invalidate his tariffs under the International Emergency Economic Powers Act, its decision affirmed his ability to use tariffs under other legal authorities “in a much more powerful and obnoxious way, with legal certainty, than the Tariffs as initially used.”
He suggested that the US could impose new license fees on trading partners, but did not provide any details.
A spokesperson for the US Trade Representative’s office did not immediately respond to a request for further comment on Trump’s plans.
In Brussels, the European Parliament decided on Monday to postpone a vote on the European Union’s trade deal with the US after Trump imposed a new temporary import duty of 15 percent on imports from all countries.
EU goods under the deal would face a 15 percent US tariff 15 percent US tariff, with exemptions for hundreds of food items, aircraft parts, critical minerals, pharmaceutical ingredients and other goods, while the EU would remove duties on many imports from the US, including industrial goods.
Trump on Friday initially announced the temporary duty under Section 122 of the Trade Act of 1974 at 10 percent, but raised it to 15 percent, the maximum allowed under the statute, on Saturday.
The new duty is set to take effect at 12:01 a.m. EST.
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