Trump's new global US tariffs come into effect

The Trump administration's new global tariff policy came into effect as of Tuesday, introducing an additional 10% tax on non-exempt imported goods, but so far holding off on a 15% hike announced only on social media, which is reportedly not yet official.

The US Customs and Border Protection (CBP) confirmed that the 10% surcharge will initially apply to all imports unless specific exemptions are granted.

On Friday, the US Supreme Court ruled that the International Emergency Economic Powers Act (IEEPA), which previously served as the legal basis for President Donald Trump's tariff measures, does not grant the president authority to impose broad tariffs.

Following the ruling, that same day Trump signed a decree imposing a 10% global tariff under Section 122 of the 1974 Trade Act.

On Saturday, Trump announced plans to raise the global tariff rate to 15%. However, White House officials clarified that only the 10% decree has been formally signed so far, with any increase to 15% to occur at a later stage.

(Trump said on Saturday that the 15% levy would be "effective immediately," but analysts have noted gaps between his postings on his Truth Social platform, which sometime read like decrees, and the decrees themselves, which are meant to have the actual force of law.)

Section 122 of the 1974 Trade Act authorizes the president to impose temporary tariffs for up to 150 days in response to what it describes as "large and serious" balance-of-payments deficits. After 150 days, Congress would have to approve of the tariffs, though the administration has said it will pursue ways to get around that requirement.

The administration defended the tariffs by pointing to the United States' annual $1.2 trillion trade deficit and a current account deficit amounting to approximately 4% of GDP.

However, legal and economic experts argue that this justification may face challenges, emphasizing that the US maintains the capacity to service its foreign debt obligations.

- Shipping giant FedEx files for reimbursement of tariff money

The tariff decision has heightened uncertainty in the business community. In a significant legal development, US-based logistics giant FedEx has filed a lawsuit against the federal government.

The case was submitted to the US International Trade Court, where FedEx is seeking reimbursement of tariffs collected under IEEPA since February 2025. The company claims it suffered financial losses due to duties imposed under a legal authority that the Supreme Court later determined to be invalid.

FedEx is demanding repayment of the collected tariffs along with applicable legal interest.