Skip to main content
915 TLDR
Politics
1 read

Trump Implements New 10% Global Tariff Following Supreme Court Ruling

KVIA••ABC News
Government building representing politics and policy news

Want the full story?

Read the complete article at KVIA

Read Original

AI Summary

President Donald Trump announced on Friday that he has signed a proclamation to impose a new global 10% tariff on imports, effective Tuesday, following a Supreme Court ruling that invalidated many of his previous tariffs. This decision is significant as it reflects Trump's ongoing efforts to reshape U.S. trade policy despite legal setbacks. The new tariff will affect countries with existing trade agreements, including the UK, India, Japan, and the EU, while exempting certain goods like beef and pharmaceuticals. Trump's administration has also extended the suspension of the de minimis exemption for low-value goods, impacting retailers like Shein and Temu. The Supreme Court's 6-3 ruling marked a major defeat for Trump's economic agenda, as it reaffirmed that only Congress has the authority to impose tariffs.

Key Details: • New 10% global tariff takes effect on Tuesday. • Countries affected include the UK, India, Japan, and the EU. • Exemptions include certain foods, pharmaceuticals, and electronics. • De minimis exemption for goods under $800 has been suspended. • Supreme Court ruled 6-3 against Trump's previous tariff authority.

economy politics trade tariffs supreme-court

People & Organizations

Donald TrumpSupreme CourtSamuel AlitoClarence ThomasNeil GorsuchBrett KavanaughJohn RobertsAmy Coney Barrett

Related Articles

KTSM•Apr 25

Pecos Council Ends Consulting Agreement with Ex-El Paso City Manager

The Town of Pecos has decided to terminate its consulting agreement with former El Paso City Manager Tommy Gonzalez following a unanimous vote by the council. The decision, proposed by Councilman Randy Graham, comes as Gonzalez's contract is set to expire on April 30. This move reflects the council's shift in direction regarding its consultancy needs and may impact future strategic decisions for the town. Residents and stakeholders should be aware of this change as it could influence local governance and initiatives.

Politics
1 min read
KVIA•Apr 25

U.S. Soldier Arrested for Insider Trading in Prediction Markets Linked to Maduro

The recent arrest of U.S. Army Sergeant Gannon Ken Van Dyke highlights concerns over insider trading in prediction markets. Van Dyke allegedly profited nearly $400,000 by betting on the downfall of Venezuelan President Nicolás Maduro, following his capture in January. This incident has sparked a federal investigation into the use of privileged information for betting on geopolitical events. The case raises questions about the legality and ethics of prediction markets, particularly as they gain popularity in the U.S. Critics argue that these markets can exploit sensitive information, while supporters claim they provide valuable insights into public opinion. The incident may lead to increased scrutiny of prediction platforms like Polymarket and Kalshi.

Politics
1 min read
KVIA•Apr 24

Colombia and Venezuela Unite to Tackle Crime Along Shared Border

In a historic meeting, Colombian President Gustavo Petro visited Venezuela to discuss strategies with interim President Delcy Rodríguez to combat organized crime along their extensive shared border of over 2,219 kilometers. This collaboration follows recent violent clashes in the Catatumbo region, leading to significant displacement of residents. Both leaders announced plans for military cooperation and intelligence sharing to address issues like drug trafficking and human trafficking. The meeting also highlighted the importance of economic ties, with bilateral trade valued at approximately $1.2 billion, and plans for energy interconnection and tourism development. This visit marks a significant step towards strengthening relations between the two nations amidst ongoing regional tensions.

Politics
1 min read
KVIA•Apr 24

Venezuela's Amnesty Law Ends Amid Controversy Over Political Prisoners

Delcy Rodríguez, the acting president of Venezuela, announced the termination of the controversial Amnesty Law, which aimed to release political prisoners and foster peace. This law, enacted following the capture of Nicolás Maduro in January, faced criticism for excluding military personnel and limiting its scope to specific political crises since 2002. As of April 20, 473 political detainees remain incarcerated, with 286 being civilians and 187 military personnel. The NGO Foro Penal reported a total of 768 releases since January, but only 186 were due to the Amnesty Law. Critics argue the law's abrupt end violates constitutional procedures, and alternative pathways for addressing excluded cases have been proposed. The situation remains tense as the government claims over 8,600 individuals have been released under the law.

Politics
1 min read