dailynewsnblog
It was not clear whether the new tariff would have a carveout for goods traded under the Canada-U.S.-Mexico Agreement on trade, better known as CUSMA.
U.S. President Donald Trump says he will sign an executive order to impose a 10 per cent global tariff after the Supreme Court struck down his use of an emergency legal tool to realign global trade.
Trump says he will use the Section 122 of the 1974 Trade Act to hit the world with the tariffs — but that duty can only stay in place for 150 days, unless Congress votes to extend it.
Trump says the new tariff will take effect in three days.
It was not clear whether the new tariff would have a carveout for goods traded under the Canada-U.S.-Mexico Agreement on trade, better known as CUSMA.
It also was not clear whether the new 10 per cent levy would stack on top of Trump’s separate tariffs on steel, aluminum, automobiles, lumber and furniture.
Earlier Friday, the Supreme Court said Trump could not use the International Emergency Economic Powers Act to hit the world with tariffs.
More to come…
