Trump raises global tariff rate to 15%, but crypto markets are unfazed

US President Donald Trump is now using alternative legal routes to levy tariffs, but critics say his authority to impose them is still limited.

United States President Donald Trump announced on Saturday that he is raising the 10% global tariff rate announced on Friday to 15%, which will take effect immediately. 

Trump reiterated his criticism of the Supreme Court’s decision to strike down his authority to levy tariffs under the International Emergency Economic Powers Act (IEEPA). In a Saturday Truth Social post, he said:

On Friday, Trump announced a 10% global tariff rate to be added on top of already existing tariffs that remained valid after the court ruling, under alternative legal statutes outlined in the Trade Expansion Act of 1962 and the Trade Act of 1974. 

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