BREAKING: Trump moves to impose 10% global tariff using Trade Act of 1974 in response to SCOTUS decision

President Donald Trump on Friday said that he will still be imposing tariffs following a ruling from the Supreme Court that blocked his tariffs issued under the International Emergency Economic Powers Act (IEEPA), announcing that an additional 10 percent global tariff will be imposed under the Trade Act of 1974. 

“So we can use other of the statutes, other of the tariff authorities, which have also been confirmed and are fully allowed,” Trump said. “Therefore, effective immediately, all national security tariffs under Section 232, and existing Section 301, tariffs ... remain in place, fully in place, and in full force and effect.”

“Today, I will sign an order to impose a 10 percent global tariff under Section 122, over and above our normal tariffs already being charged,” Trump added in reference to the Trade Act of 1974. The comments come after the Supreme Court ruled 6-3 that the president does not have the power to impose tariffs on countries using the IEEPA.

The three justices who dissented included Samuel Alito, Clarence Thomas, and Brett Kavanaugh, with the latter penning the opposing opinion. The court’s majority decision, penned by Chief Justice John Roberts, said, "The Government reads IEEPA to give the President power to unilaterally impose unbounded tariffs and change them at will. That view would represent a transformative expansion of the President’s authority over tariff policy. It is also telling that in IEEPA’s half century of existence, no President has invoked the statute to impose any tariffs, let alone tariffs of this magnitude and scope."

"That ‘”lack of historical precedent,” coupled with the breadth of authority' that the President now claims, suggests that the tariffs extend beyond the President’s 'legitimate reach.'" He added that President Trump relied on the words "regulate" and "importation" to claim "the independent power to impose tariffs on imports from any country, of any product, at any rate, for any amount of time. Those words cannot bear such weight."

Immediately after the decision came down, there were reports that Trump had called the SCOTUS ruling a "disgrace" while speaking to state governors. The New York Times reported that the president plans to implement the tariffs through other legal means since the option of using the IEEPA has been struck down.