Trump Raises Tariffs as Global Businesses Demand Relief From Trade Uncertainty

Business communities in the United States and across the world reacted with alarm Saturday as President Trump announced a 15% tariff on all imports, ratcheting up trade tensions one day after the Supreme Court struck down the legal mechanism behind his previous tariff scheme.
The new levy relies on Section 122 of the Trade Act of 1974, a provision that permits up to 15% tariffs for 150 days before congressional authorization is needed. Trump announced the measure on Truth Social, framing other nations as long-standing economic exploiters of the United States. He described the hike as legal, justified, and effective immediately.
American business associations, already calling for refunds on the $130 billion in tariffs collected under the now-invalidated IEEPA framework, face another round of elevated costs. Studies show that approximately 90% of tariff revenue has been absorbed by US companies and consumers, not foreign exporters. Trump signaled that any reimbursements would require a protracted legal fight.
The British Chamber of Commerce called the development bad for trade, bad for consumers, and harmful to global economic growth, warning that businesses on both sides of the Atlantic need stability, not escalating uncertainty. Germany and France made similar calls for predictability, with Chancellor Merz announcing a visit to Washington and President Macron emphasizing the principle of trade reciprocity.
Exemptions from the new rate include critical minerals, metals, pharmaceuticals, and USMCA-compliant goods from Canada and Mexico. Sector-specific tariffs on steel, aluminum, lumber, and automotive products remain in force under separate legal authority. The 150-day clock is now running on the new tariff provision, with the administration vowing to build a legally durable long-term trade framework.