US President Donald Trump has imposed a new global tariff of 10% on imports into the country, and has said he intends to raise this to 15%.
The move follows a ruling by the US Supreme Court in which judges said the previous tariffs imposed by Trump under emergency powers were unlawful.
Trump’s tariffs were announced in April 2025 as part of his so-called “Liberation Day” and implemented from August last year.
The levies, introduced under the Emergency Economic Powers Act (IEEPA) of 1977, were set by Trump at various levels for different countries and items.
Countries such as the UK and China agreed reciprocal deals with the President.
However, the Supreme Court ruled on 20 February 2026 that IEEPA does not give Trump the power to impose tariffs, making them invalid.
Trump responded to the ruling by imposing a temporary 10% levy on global imports under a different law, which is due to come into force from tomorrow (24 February).
The President has since said he intends to raise this to 15% in a post on his social media site Truth Social.
For some countries, the new levy is higher than previously agreed tariffs, including the UK, and for others it is lower, such as China and Brazil.
Responding to the latest developments, Sean McGuire, Europe and International Director at the British business group the Confederation of British Industry (CBI), said that although the court’s decision was welcome, concerns surrounded the new levy.
“Whilst business had given a cautious welcome to [the] US Supreme Court Ruling to halt tariffs brought under the International Emergency Economic Powers Act (IEEPA) they will be concerned by the President’s announcement to press ahead with alternative tariff measures which would have equivalent or greater effect to the IEEPA.
"Business will be looking to the UK Government to ensure that preferential treatment for UK firms remains, continue their efforts to reduce tariffs on steel and aluminium, and provide clarity and support for business as the US Administration takes its next steps."
In a statement reported by Reuters, the UK Government said it is “working with the US to understand how the overturning of Donald Trump’s tariffs by the Supreme Court will affect the UK but expects our privileged trading position with the US to continue”.
Meanwhile, the European Commission said in a statement that “a deal is a deal” and that it expects the US to “honour its commitments” set out in a commitment made in August 2025.
The uncertainty surrounding the latest tariffs has sent the US dollar and European stock markets lower, while gold – considered a safe-haven by investors – has risen.