Trump Issues Warning of Increased Tariffs for Nations Attempting to “Play Games”
In a series of posts on social media, Trump indicated that he might also introduce licensing fees for trading partners, as uncertainty surrounding his upcoming tariff decisions unsettled the global economy and led to a decline in stock markets.
US President Donald Trump on Monday warned countries not to back out of recent trade deals with the US after the Supreme Court struck down his emergency tariffs. He said he would impose much higher duties on them under various trade laws.
In several social media posts, Trump said he may also impose licensing fees on trading partners, as uncertainty about his next tariff moves has gripped the global economy and sent stocks plummeting.
“Any country that wants to ‘play’ with this strange Supreme Court decision, especially those that have ‘betrayed’ the USA for years and decades, will face much higher tariffs, and even worse than the ones they recently agreed to. Buyer beware!!!” Trump wrote on Truth Social.
Trump said that despite the court’s decision invalidating his tariffs under the International Emergency Economic Powers Act, the decision confirmed his ability to use tariffs under other legal authorities “with legal certainty, in a much more powerful and vicious way than the tariffs were initially used.”
He suggested the US could impose new licensing fees on trading partners but did not provide any details.
A spokesperson for the Office of the US Trade Representative did not immediately respond to a request for further comment on Trump’s plan.
In Brussels, the European Parliament decided to postpone a vote on the EU’s trade deal with the US on Monday after Trump imposed a new temporary 15% import duty on imports from all countries.
Under the agreement, EU goods will be subject to a 15% US tariff, exempting hundreds of food items, aircraft parts, critical minerals, pharmaceutical ingredients, and other goods, while the EU will remove tariffs on many US imports, including industrial goods.
Trump initially announced a 10% temporary duty on Friday under Section 122 of the Trade Act of 1974 but on Saturday increased it to 15%, the maximum allowed by law.
The new duty will take effect at 12:01 a.m. EST (0501 GMT) on Tuesday. Meanwhile, the US Customs and Border Protection Agency said it would stop levying illegal IEEPA duties, more than three days after the Supreme Court’s ruling. Uncertainty unsettles markets.
Wall Street stocks fell in early trading on Monday as renewed uncertainty over tariffs following the Supreme Court’s decision unnerved investors. The Dow Jones Industrial Average fell 1.34% in morning trading, and the S&P 500 lost 0.65%, while the tech-heavy Nasdaq Composite also fell 0.65%.
The US dollar index fell 0.2% against major currencies.
The path forward for Trump’s foreign trade deals remains uncertain, with China urging Washington to lift tariff measures, the EU holding off on approval, and India delaying scheduled negotiations.
US Trade Representative Jamieson Greer said over the weekend that the Trump administration expects to launch new investigations into several countries for unfair trade practices under Section 301, a legal move it hopes to use to threaten new tariffs.
Trump used his social media posts to re-attack judges who ruled against him, including two he appointed during his first term in the White House. In its decision, written by conservative Chief Justice John Roberts, the court reasserted its power to check the president’s power.
The president also expressed concern that the Supreme Court could rule against his government’s attempt to ban birthright citizenship in its upcoming decision in that case.
