The additional import tariffs signed into law by President Donald Trump apply to most goods entering the US, but leave exceptions for certain essential mineral and agricultural products.

On February 21st, on the social media platform Truth Social, US President Donald Trump stated that after "carefully and thoroughly reviewing" the Supreme Court ruling regarding import tariffs, he decided to increase global tariffs from 10% to 15%, effective immediately. He emphasized that this is an acceptable and legally validated upper limit.

The US President also stated that in the coming months, the administration will continue to review, identify, and announce new import tariffs in accordance with legal regulations, in order to advance the goal of "making America great again."

Previously, on February 20th, President Donald Trump signed an executive order imposing an additional 10% import tariff on goods entering the United States.

The move comes shortly after the U.S. Supreme Court rejected the imposition of tariffs based on the International Emergency Economic Powers Act (IEEPA). This time, President Trump invoked the authority under Section 122 of the Trade Act of 1974, which allows the President to impose surcharges and import restrictions to address serious balance of payments problems.

According to the White House, this tariff is supplemental, meaning it is added to existing taxes and fees on most imports into the United States.

However, the order includes several exceptions. Some product categories are exempt from additional tariffs, including essential minerals, currency metals, gold bullion, energy, and resources that the U.S. cannot produce enough of domestically.

In addition, some agricultural products such as beef, tomatoes, and oranges; pharmaceuticals; electronics; cars and aerospace equipment are also exempt from this 10% tax rate. Items currently subject to tax under Article 232, such as steel, aluminum, automobiles, and certain other metals, are also excluded.

Regarding origin, the new tariffs do not apply to goods from Canada and Mexico – two countries that are signatories to the US-Mexico-Canada Agreement (USMCA). Textiles from six Central American and Caribbean countries, including Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua, are also exempt under the Dominican Republic-Central America Free Trade Agreement.

Conversely, President Donald Trump continues to suspend the tax exemption for low-value shipments sent through the international postal system. This group will be subject to an additional 10% tariff.

A White House official said the 10% global tariff essentially replaces the IEEPA-based tariffs that were invalidated by the Supreme Court. This could lead to a reduction in total import tariffs for some countries.

For example, China was previously subject to two rounds of 10% tariffs under the IEEPA, in addition to the current 25%. By switching to the global 10% tariff rate, the total tariffs on many Chinese goods could decrease from 45% to 35%.

Observers believe that, with dozens of countries currently pursuing bilateral trade negotiations with the US, the Supreme Court's new ruling could become a factor in prompting them to recalculate their negotiating strategies, or even seek additional advantages at the negotiating table.

According to a report from the Federal Reserve Bank of New York, many economies have gradually adapted to President Trump's tax policies. In fact, the majority of the costs arising from these measures are being borne by American businesses and consumers.

Meanwhile, China is projected to record a trade surplus of nearly $1.2 trillion in 2025, thanks to increased exports to markets outside the US. The latest update from the International Monetary Fund (IMF) also forecasts global economic growth this year to remain at 3.3%.

Legally, Section 122 allows the U.S. President to impose tariffs of up to 15% for a period of 150 days to address serious balance of payments issues without prior investigation. Any extension requires congressional approval.

In addition, President Donald Trump stated that he would conduct further investigations under Section 301 concerning unfair trade practices. The current 10% tariff is considered a temporary measure for five months, sufficient time to complete the new investigations. He did not rule out the possibility that the final tariff could be higher, depending on the assessment results.

U.S. Trade Representative Jamieson Greer said details of the Section 301 investigations would be released in the coming days, asserting that the legal basis was “very solid.” During his first term, Trump used Section 301 to impose tariffs on Chinese goods.

Lukas Folkman, an expert at the European Policy Centre (EPC), believes that some economies may continue to pursue bilateral agreements with the US, rather than risk falling into the uncertainty seen in the spring of 2025.

Source: DTiNews

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