• Trump has signed an executive order imposing a 10% tariff on all imports from February 24.
• The tariff is a response to a Supreme Court ruling that invalidated earlier tariffs.
• The new measure intends to address balance-of-payments issues and support domestic manufacturing.
• Certain products will be exempt, including critical minerals and agricultural goods.
• The tariff will last for 150 days, subject to extension by Congress.

President Donald Trump announced he has signed an executive order imposing a 10% tariff on imports from all countries, effective February 24 at 12:01 AM EST. This decision follows a ruling by the US Supreme Court that invalidated previous tariffs, declaring them "illegal" due to exceeding presidential authority. The new tariffs will remain in effect for 150 days, unless extended by Congress, according to CBS News, India Times, and Anadolu Agency.

Trump's administration has argued that the tariffs are necessary to combat a significant balance-of-payments deficit, citing data including a projected $1.2 trillion goods trade deficit for 2024. The White House indicated that these tariffs aim to mitigate economic risks associated with increasing reliance on imports, thus bolstering domestic manufacturing and stabilizing the economy. The administration plans to utilize Section 122 of the Trade Act of 1974, which allows for such tariffs when addressing urgent balance-of-payments issues, reports India Times and Anadolu Agency.

The measure will exempt certain goods to alleviate potential economic strain, including critical minerals, metals, and agricultural products such as beef and tomatoes. Additionally, products covered under existing tariffs and those compliant with the US-Mexico-Canada Agreement will not incur the new surcharge, according to CBS News and India Times.

In a related action, the Trump administration reaffirmed the suspension of duty-free treatment for low-value imports, ensuring they will also be subject to the 10% tariff. This aligns with the broader intent of the administration to restructure trade relationships through tariffs, as suggested by a commitment to continue utilizing tariffs as a key instrument in US trade policy despite legal challenges, as noted by India Times and Anadolu Agency.