BlockBeats News, February 24th, U.S. President Trump issued a warning on social media, stating that any country that, after its emergency tariffs imposed under the International Emergency Economic Powers Act are overturned by the U.S. Supreme Court, attempts to deviate from the recent trade agreement with the U.S. or play tricks will face “much higher” tariffs and more severe consequences.
He mentioned that despite the related emergency tariffs being ruled invalid, the government can still take “stronger” tariff actions under other trade laws, and even hinted at the possibility of imposing new licensing fees on trading partners.
Previously, the Trump administration announced a temporary tariff of up to 15% on imported goods under Section 122 of the 1974 Trade Act, with the new tariffs set to take effect early Tuesday morning Eastern Time. Due to the uncertainty of the tariff policy, Wall Street stocks plummeted on Monday. The EU has postponed the vote on the U.S.-EU trade agreement, and countries like India have also delayed negotiation processes. U.S. Trade Representative Jamison Greer stated that the government expects to launch a new “Section 301” investigation to pave the way for further tariff increases.
