Trump invokes 1974 Trade Act to lift global tariffs to 15 per cent: US media

US President Donald Trump raised a newly imposed global tariff to 15 per cent, invoking Section 122 of the Trade Act of 1974 as reported by The Wall Street Journal, a move that escalates his trade offensive a day after the US Supreme Court struck down much of his earlier tariff regime.

- AGENCIES

In a post on Truth Social, Trump said the increase followed "a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday" by the Supreme Court.

“I, as President of the United States of America, will be, effective immediately, raising the 10 per cent Worldwide Tariff on Countries, many of which have been 'ripping' the US off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15 per cent level,” he wrote.