Norway’s highest court ruled that a large part of Trump’s tariff agenda was illegal. The president’s trade tariffs were applied based on the new deposit of the International Extraterritorial Economic Powers Act (IEEPA), but the Supreme Court ruled by a 6:3 vote that the law on which these import tariffs are based does not fix the president for the imposed tariffs. Shortly after the Supreme Court decision, Trump said he signed an executive order imposing a new 10% global tariff rate to effectively replace IEEPA tariffs, which were limited to 150 days under Section 122 of the 1974 Trade Act. Pot said that the global rate is expected to be 15%. Last year, with a national security risk waiver under Article 232, the Trump administration imposed a 25% tariff on vehicles and some auto parts imported into the US. These duties will be paid.
Vladimr Urbnek
He has been in the field of investments for about 25 years. After several years of experience in trading with securities, he is dedicated to reporting on domestic and foreign capital markets. It is considered due to experience and monitoring of long-term economic development on Czech and foreign capital markets.