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The United States Supreme Court last week overturned several of his previous tariffs, and has now voted for new “national security tariff” after US President Donald Trump announced the move to raise the possibility of new ‘national Security tariff’.
According to sources close to the White House, the administration is working on new tariffs that could cover 5-6 sectors.
The new tariffs considered would cover large-scale batteries, cast iron and iron fittings, plastic piping systems, industrial chemicals or electrical grid and telecommunications equipment. Section 232 of the 1962 Trade Expansion Act is intended to implement these tariffs, which provides broad powers for the president on national security grounds.
It comes just days after the Supreme Court voted in an 6-3 vote to reverse most of Trump’s “reciprocal tariffs” issues he has issued under the International Emergency Economic Powers Act. Trump had overstepped his power by imposing these tariffs on nearly all U.S. citizens, the court heard. A , S. trading partners. In his second term, more than half of the tariff revenue generated in this year’s re-defence was due to overturned Tarifties. Trump last week announced a new 15% global tariff that will remain in effect for five months to help compensate for this loss, said Trump’s latest announcement.
The new Section 232 tariffs are to be implemented independently of the previously announced 15% global tariff and other tariff plans under Section 1301. Section 232 has so far been exempt from other tariffs announced during Trump’s second term. Trump had also imposed tariffs on steel, aluminum, copper, automobiles, trucks and parts of cars in his second term as president. Supreme Court ruling did not affect these tariffs.
However, it is not yet clear when the new taxes under Section 232 will be formally investigated and when they will ultimately become effective. It must be carefully reviewed before the tax is implemented; however, once customs duties are in effect, they can unilaterally change by the president.
In a statement White House spokeswoman Kush Desai said, “The most important thing that President Trump’s priority remains to protect America from its national and economic security. The administration is committed to enforcing this with all legal powers. ” , ‘I’m sure it is worth reading.
However, Trump administration is also said to be weighing tariffs under current Chapter 232 investigations in nine sectors of the country’. Semi semiconductor and pharmaceutical companies, drone with industrial robot (and polysilicon) that are currently used in solar panels for their own purposes. The process could be accelerated after the Supreme Court’s ruling, according to some of these investigations which were launched about a year ago.
The administration also is planning to re-impose existing steel and aluminum tariffs on the government. These proposed adjustments could lower nominal tax rates; however, the aim is to impose taxes on the total value of the product (not just the steel or aluminum) in it). This might also mean a rise in the final tax burden for many companies, especially .
*This is not investment advice.
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