Hours after the Supreme Court ruled against his unilateral tariff powers, President Donald Trump announced a new 10% global tariff on imports, to take effect Tuesday. This temporary measure, enacted under Section 122 of the Trade Act of 1974, will apply to countries with existing trade agreements with the U.S., including the UK, India, Japan, South Korea, Taiwan, and the European Union, though imports from Canada and Mexico under the USMCA will be exempt. The proclamation, signed in the Oval Office, is intended to generate revenue and strengthen the U.S. economy, with Trump asserting broad executive authority despite the law limiting its application to 150 days without Congressional approval. A White House notice lists exemptions for critical minerals, energy products, certain agricultural goods, pharmaceuticals, and vehicles, while also extending the suspension of the de minimis exemption for packages under $800, impacting retailers like Shein and Temu.