Trump Bypasses Supreme Court Ruling to Hike Global Tariffs to 15%

President Donald Trump has raised global tariffs from 10% to 15% with immediate effect, a move made less than 24 hours after a Supreme Court setback. The Court had specifically ruled that Trump exceeded his authority by using the International Emergency Economic Powers Act (IEEPA) to levy sweeping tariffs. To circumvent this ruling, Trump pivoted to a narrower legal statute to sign the new proclamation and bypass the judicial constraints. The administration further announced it will identify and issue additional legally permissible tariffs over the coming months. Market experts warn that these measures will likely disrupt global supply chains and heighten domestic inflationary pressures. Consequently, trade-sensitive assets like the SPY and EEM are facing downward pressure, while the USD attracts safe-haven inflows amid the legal and economic uncertainty.