U.S. President Donald Trump renewed his condemnation of the Supreme Court on Monday after it ruled against his sweeping tariff program last week, vowing to turn to other tariff powers and licenses but giving no details.
“The court has also approved all other Tariffs, of which there are many, and they can all be used in a much more powerful and obnoxious way, with legal certainty, than the Tariffs as initially used,” he wrote in a social media post.
Trump said on Saturday he would raise a temporary tariff from 10% to 15% on U.S. imports from all countries, the maximum level allowed under the law, a day after the court ruled that Trump had exceeded his presidential authority when he imposed an array of higher tariff rates under an economic emergency law.
In his post Monday, Trump also pointed to the potential use of licenses to pressure countries, writing that “incomprehensibly, according to the ruling, (I) can’t charge them a License fee – BUT ALL LICENSES CHARGE FEES, why can’t the United States do so? You do a license to get a fee! The opinion doesn’t explain that, but I know the answer!”
Wall Street futures and the dollar dropped early on Monday amid confusion over the U.S. trade policy, while oil prices initially fell over uncertainty for global growth and fuel demand over the latest tariff hike before being steadied by news of planned U.S.-Iran talks.
