• Trump's new global tariff rate has been raised from 10% to 15%.
• The increase follows a Supreme Court ruling that deemed many of his tariffs illegal.
• The new tariffs will be temporarily in effect for 150 days unless extended by Congress.
• Businesses are unclear whether existing trade deals will be affected by the new tariff rate.
• Trump's administration plans to seek alternative legal ways to impose tariffs in the future.

U.S. President Donald Trump announced on Saturday that he is raising the global tariff rate from 10% to 15%, reflecting his commitment to a tough trade stance. This decision came in the wake of a significant ruling from the U.S. Supreme Court, which found many of his previous tariffs unlawful, leading Trump to describe it as "ridiculous" and "anti-American" on his social media platform, Truth Social. He stated that the move is legal and aims to address unfair trade practices from other countries that he claims have been "ripping" off the U.S. for decades, according to South China Morning Post and India Times.

This latest tariff hike is part of Trump's aggressive trade policy strategy and follows the Supreme Court's 6-3 decision which ruled that he overextended his authority by using the International Emergency Economic Powers Act (IEEPA) to impose tariffs without Congressional approval. The court determined, by a majority, that taxation powers reside with Congress, thereby invalidating many of Trump's past tariff actions. In response, Trump criticized the judiciary's ruling and quickly directed his administration to implement the new rates, maintaining that the 15% tariff is the highest level permissible under the law, as reported by Le Monde and Channel News Asia.

The implications for existing trade agreements remain unclear, as countries that had negotiated lower tariffs may now face the higher rate. Trump indicated there would be continued efforts to establish legally viable tariffs, hinting at a complex negotiation landscape ahead. Businesses that had previously anticipated lower rates may be facing increased costs, prompting some to seek redress for tariffs already collected by the U.S. Treasury, which exceed $133 billion, according to Al Jazeera and Al Jazeera.

Trump's new tariff regime is temporary, lasting for 150 days unless Congress decides to extend it. During this time, some products, particularly sectors such as agriculture and certain imported goods, may face exemptions from the new levies. This short-term nature of the tariffs may create uncertainties for ongoing and future trade deals, especially as Trump's administration plans further assessments to identify and impose additional tariffs based on national security concerns and unfair trade practices, according to Le Monde and Channel News Asia.