Trump announces new 10% global tariff after raging over Supreme Court loss

Story is breaking so more will come in a bit, but for now:

President Donald Trump said Friday he will sign an executive order imposing a new 10% “global tariff,” hours after the Supreme Court struck down his sweeping “reciprocal” import duties in a major rebuke of his trade agenda.

The new tariffs will come on top of the existing levies that remain intact following the high court’s decision, Trump said as he raged at the ruling during a White House press briefing. He will sign an executive order later Friday imposing the new duties, which are being invoked under Section 122 of the Trade Act of 1974.

Tariffs conjured using that statute can only last for 150 days, with any extension requiring congressional approval.

Asked at the press briefing about that time limit, Trump said, “We have the right to do pretty much what we want to do.”