Trump Escalates Global Tariffs to 15% After Supreme Court Defeat

Donald Trump raised the global tariff baseline to 15 percent after the USA Supreme Court ruled his previous trade strategy was an unconstitutional exercise of taxing power.The administration utilized the 1974 Trade Act to implement the new levies as USA Trade Representative Jamieson Greer pledged to honor existing agreements with the EU.EU officials including Maros Sefcovic and Christine Lagarde expressed concerns over market stability while considering a pause on a major trans-Atlantic trade deal.Major corporations like Costco and Lyft are seeking the return of $133B in collected tariffs as the goods trade deficit hit a record $1.24T.