The White House plans to impose a 15 percent tariff under Section 122 of the Trade Act of 1974 after the US Supreme Court blocked Donald Trump’s use of the International Emergency Economic Powers Act. Trump has threatened higher tariffs for countries challenging the ruling, claiming he does not need Congress’ approval. The move has sparked economic uncertainty and negative impacts on American consumers, with gold prices rising and US markets taking a hit. Trump’s actions have also stalled trade deals, such as the European Parliament postponing a vote on a trade deal with the US.
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