Trump signals new trade moves after supreme court blocks tariffs

US President Donald Trump on Monday vowed to pursue alternative trade measures after the Supreme Court blocked his broad tariff programme last week, citing overreach under an economic emergency law.

Trump, in a social media post, suggested that other tariffs could be applied “in a much more powerful and obnoxious way” with legal certainty. He also questioned the court’s ruling preventing him from charging licence fees, arguing that licence fees are standard practice internationally.

On Saturday, Trump announced a temporary increase of tariffs from 10 per cent to 15 per cent on imports from all countries, the maximum allowed under law, following the court’s decision.

The ruling is already affecting international trade deals. China has urged Washington to scrap the tariffs, the European Union is freezing its agreement, and India has postponed planned talks. Trump also raised concerns about a forthcoming Supreme Court decision on restricting birthright citizenship.

Markets reacted to the uncertainty, with Wall Street futures and the dollar dropping early Monday, while oil prices initially fell over global growth and demand concerns before stabilising after reports of planned US-Iran talks.

The Supreme Court, in a ruling authored by Chief Justice John Roberts, reaffirmed its authority to check presidential powers. Trump renewed criticism of the justices involved, including two he appointed during his first term.