President Trump announced an immediate increase in global import tariffs from 10% to 15% via Truth Social. This decision follows a U.S. Supreme Court ruling that invalidated his previous tariffs under the International Emergency Economic Powers Act, citing them as unauthorized. Trump is now utilizing Section 122 of the Trade Act of 1974, which allows temporary tariffs of up to 15% on all imports for 150 days, to address trade imbalances. The tariff hike applies to all global imports, with potential exemptions for critical goods like energy and key minerals. Trump stated that these measures aim to rectify long-standing trade imbalances, though they may provoke global trade tensions and inflationary pressures.