Trump Hikes Global Tariff Rate to 15 Percent

President Trump boldly hikes the global tariff rate on US imports to 15 percent from 10 percent, invoking Section 122 of the 1974 Trade Act just days after the Supreme Court struck down his initial plan under the International Emergency Economic Powers Act. This temporary measure, lasting up to 150 days, maxes out presidential authority to tackle America's massive balance-of-payments deficit and protect American workers from unfair foreign competition.