US President Donald Trump on Friday said he has signed an executive order imposing a 10% tariff on imports from all countries, escalating his trade agenda hours after the Supreme Court struck down his earlier sweeping import duties. The new tariffs are set to come into effect on February 24 at 10:31 am IST.
“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 Truth Social.
The White House, in a fact sheet, said the US will continue to uphold its legally binding reciprocal trade agreements and expects its trading partners to show the same level of commitment.
Earlier on Friday, Trump had said, “Today, I will sign an order to impose a 10% global tariff under Section 122, over and above our normal tariffs already being charged,” declaring, “I can charge much more.”
The new levy will take effect almost immediately and will remain in place for about five months under Section 122 of the Trade Act of 1974.
“During that period of about five months, we are doing the various investigations necessary to put fair tariffs, or tariffs, on other countries,” Trump told reporters.
Asked whether the duties could extend beyond 150 days, he said, “We have a right to do pretty much what we want to do, but we're going to change it starting effectively. I think it's three days from now.”
The move comes after the court’s 6-3 ruling invalidated his use of the International Emergency Economic Powers Act to impose tariffs without congressional approval. Trump sharply criticised that decision, calling it “deeply disappointing” and saying he was “ashamed of certain members of the court.”
Trump argued that while the ruling restricts tariffs under International Emergency Economic Powers Act (IEEPA), it does not limit other executive tools.
“I can destroy the trade, I can destroy the country. I'm even allowed to impose a foreign country-destroying embargo. I can embargo. I can do anything I want, but I can't charge $1 because that's not what it says,” he said. “How ridiculous is that?”
He cited Justice Brett Kavanaugh’s dissent, which suggested the decision may not significantly constrain future presidential tariff authority.
“He's right. In fact, I can charge much more than I was charging,” Trump said.
“We have alternatives, great alternatives,” Trump added. “Could be more money. We’ll take in more money, and we’ll be a lot stronger for it.”
He said several Section 301 unfair trade practice investigations are being launched “to protect our country from unfair trading practices of other countries and companies.”
While Section 122 tariffs are capped at 150 days and limited to 15%, Trump signalled that broader action could follow.
Asked whether rates could rise further under additional Section 232 national security probes or Section 301 actions, he replied: “Potentially higher. It depends. Whatever we want them to be.”
He added that some countries “that have treated us really badly for years” could face steeper tariffs, while others would see “very reasonable” treatment.
US Trade Representative Jamieson Greer said details of new Section 301 investigations would be released in the coming days, calling them “incredibly legally durable.”
The White House released a fact sheet, outlining exemptions similar to those in the tariffs struck down, excluding select products in sectors such as energy, pharmaceuticals, autos and aerospace. In particular, the US will continue to honour its legally binding agreements on reciprocal trade and that it expects the same commitment from its trading partners.
Certain imports will be exempt from the temporary duty to protect US economic needs or to better address international payment imbalances. These include critical minerals, bullion and currency metals, energy, and related products.
In a separate executive order, Trump reaffirmed the suspension of duty-free treatment for low-value shipments, including those sent through the international postal system, making them subject to the temporary duty under Section 122.
The Supreme Court ruling has cast uncertainty over roughly $175 billion in tariff revenue collected over the past year, which could now be subject to potential refunds, according to estimates cited by Reuters from Penn-Wharton Budget Model economists.
Asked whether his administration would refund duties imposed under the emergency law, Trump said, “I guess it has to get litigated for the next two years,” indicating that any reimbursement process would not be immediate.
Speaking in Dallas, Treasury Secretary Scott Bessent said the court did not provide guidance on refunds and that the issue remains “in dispute.” “My sense is that it could be dragged out for weeks, months, years,” Bessent said.
However, he added that the shift to new Section 122 tariffs, along with expanded Section 232 and Section 301 measures, is expected to offset revenue losses. Treasury estimates suggest tariff revenue in 2026 could remain “virtually unchanged.”
With the Oval Office order now signed, Trump has made clear that despite the court setback, tariffs will remain central to his trade strategy.
“My sense is that it could be dragged out for weeks, months, years,” Bessent told business leaders.
Treasury estimates the shift could leave 2026 tariff revenue “virtually unchanged,” despite the loss of the earlier emergency duties.
With new legal tools now in play, the administration appears determined to keep tariff revenues, and its broader trade strategy, largely intact.
