Trump weighs new batch of national security tariffs after Supreme Court ruling: report
President Trump is reportedly weighing a new batch of levies on six industries after the Supreme Court last week overturned his main tariffs.The new tariffs could affect large-scale batteries, cast iron and iron fittings, plastic piping, industrial chemicals, power grid supplies and telecom equipment, the Wall Street Journal reported, citing people familiar with the plans.New tariffs would be applied in addition to a broad tariff that Trump announced soon after the Supreme Court on Friday overturned his levies imposed under the International Emergency Economic Powers Act, or IEEPA – ruling that the move surpassed his presidential authority.The Trump administration imposed a new global tariff of 10% on Tuesday, after the president suggested Saturday the rate would be 15%.The White House is working on an order to up the rate 5%, according to Bloomberg.Trump said over the weekend he has several other duties lined up for when the 10-15% rate expires in five months.His tariffs targeting the six specific industries would be imposed under Section 232 of the Trade Expansion Act of 1962, which gives the Oval Office sweeping powers to impose levies based on national security risks, according to the Journal.While the Supreme Court’s ruling tossed out the steep tariffs placed on most US trading partners, it did not touch Trump’s Section 232 tariffs on foreign vehicles, auto parts, steel, aluminum, copper, furniture and semiconductors.Those tariffs have not faced serious legal challenges, and the Trump administration has largely refused to hand out exemptions to them – except for a small “destacking” rule on auto imports that limits how many tariffs can be combined.Lengthy government investigations are required before Section 232 tariffs can be put in place.It is unclear when the Commerce Department plans to impose the new tariffs, according to the Journal.“Safeguarding America’s national and economic security remains a top priority for President Trump, and the ...