Trump imposes global 10% tariff on all countries, signs order — what we know so far

US President Donald Trump said on Friday he signed off on a global 10-percent tariff "on all Countries," hours after the Supreme Court ruled his levies on imports are illegal.

"It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately," Trump wrote on his Truth Social platform.

How much tariff does India pay now?

Even as the latest Supreme Court ruling invalidated Trump's "reciprocal" and emergency tariffs, Trump said on Friday that “nothing changes with India.”

The US and India have struck an interim trade agreement under which Washington slashed the “reciprocal tariff” to 18 percent from the previous 50 percent. New Delhi, on the other hand, agreed to impose zero tariffs on US goods.

However, on Friday, the US Supreme Court struck down the reciprocal tariffs imposed under emergency provisions, effectively resetting duties on Indian goods to MFN levels.

Trump, instead, imposed a new 10 percent global tax on all countries, including India, and insisted that tariffs previously imposed under Section 232 (National Security) and existing Section 301 (Unfair Trade) remain “in full force and effect.”

What did Trump say on India tariffs?

On a question regarding the US-India trade deal, Trump told news agency ANI, “Nothing changes. They'll be paying tariffs, and we will not be paying tariffs...”

He called Prime Minister Narendra Modi “a great man” and said he was “much smarter than the people he was against in terms of the US...”

"He was ripping us off. So we made a deal with India... We are not paying tariffs to them and they are. We did a little flip," Trump said.

Before even signing the order, Trump said on Friday that he will sign an order to impose a 10 percent global tariff under Section 122 over and above our normal tariffs already being charged.

He emphasised that tariffs previously imposed under Section 232 and existing Section 301 remain "in full force and effect," as they were not affected by the International Emergency Economic Powers Act (IEEPA) ruling.

A White House official also confirmed that the new 10 percent tariff will remain in place until another authority is invoked, emphasising the expectation that trade partners abide by US trade deals.

When asked whether India will have to pay 10 percent tariffs and whether they will replace previous tariffs under the International Emergency Economic Powers Act (IEEPA), the official told ANI, “Yes, 10% until another authority is invoked.”

The official also advised all the trade partners to abide by the trade deals.

The new 10% global tariff is part of Trump's protectionist trade agenda, aimed at addressing balance-of-payments issues and unfair trade practices.

Why did US impose 10% global tariff?

US President Donald Trump announced 10 percent global tariffs "effective immediately," following a major legal defeat at the US Supreme Court.

The Supreme Court ruled 6-3 that the Trump administration exceeded its legal authority by using the International Emergency Economic Powers Act (IEEPA) of 1977 to impose broad-based import tariffs.

The ruling invalidated billions of dollars in "reciprocal" and emergency tariffs, potentially requiring the government to refund approximately $130-$175 billion in collected revenue.

The US Supreme Court held that the US President did not possess the authority under IEEPA to impose extensive import duties on goods from nearly all US trading partners.

‘Alternatives will be used’

Terming SC's ruling as a "terrible decision", Trump announced he would sign an executive order for a 10% global tariff under Section 122 of the Trade Act of 1974.

This authority allows for a temporary import surcharge (up to 15%) for 150 days to address balance-of-payments deficits.

Following the Supreme Court ruling, Trump said, “Other alternatives will now be used to replace the ones that the court incorrectly rejected.”

“We have alternatives. Could be more money, we will take in more money... We have taken in hundreds of billions of dollars. We will continue to do so,” Trump added.

"To show you how ridiculous the opinion is, the court said that I am not allowed to charge even 1 dollar... I cannot charge 1 dollar to any country under IEEPA (International Emergency Economic Powers Act)...," Trump said.