There Supreme Court ruling which rejected only part of the US tariffs, while leaving other tariffs in place, did not end the trade war. Although the judges’ stop opens the door to potential refunds of up to $175 billion, the decision threw international trade into chaos and triggered a backlash from Donald Trump, who signed a decree to impose a new global customs duty of 10%, effective from February 24 for 150 days.
The 10% duty will not apply to products already subject to sectoral duties, nor to goods coming from Canada and Mexico under the North American Free Trade Agreement. Exemptions are also foreseen for some strategic sectors, includingpharmaceutical industry.
The new tariff instead affects the countries or blocks that had signed trade agreements with Washington, such as European Union, Japan, South Korea and Taiwan, which had accepted a maximum customs surcharge of 15%. There The White House stated that the administration could apply “more appropriate or pre-negotiated rates” in the future.
European Union: EU-US agreement at risk after tariff ruling
THE’EU-US agreement, signed in July, set a 15% duty on European exports, while eliminating tariffs on American industrial products. The sentence of Supreme Court on tariffs could effectively cancel the agreement, imposing the new temporary tariff of 10% on Europeans.
Brussels awaits official clarifications from Washington. One has already been called Extraordinary meeting of the European Parliament negotiating team on the Turnberry Agreement to assess the political and economic implications. Even the Foreign Minister Antonio Tajani will bring together the duties task force with Italian companies.
From Italian wine producers to German chemical groups, the fear of a boomerang effect: frozen orders, suspended agreements and new uncertainties about exports.
United Kingdom: no change in tariffs
For the No changes are expected in the United Kingdom, as the rate agreed with the United States is already at 10%.
Canada and Mexico: exemptions linked to the USMCA agreement
THE’USMCA free trade agreement requires about 90% of Canadian exports to be tariff-free. The following remain in force: sectoral duties on steel and aluminium.
For the Mexico, the additional 25% duty on imports should be canceled, while the USMCA regime continues to apply.
China: partial suspension but new duties on the way
For the China, the Supreme Court has suspended a general duty of 10% and a further 10% linked to Fentanyl, but other tariffs remain operational. To these is added the new 10% global tariff announced by Trump, which reignites tension between Washington and Beijing.
India: reduction of duties in exchange for energy concessions
At the beginning of February, Trump announced a reduction in customs duties on India from 50% to 18% in exchange for concessions on energy, armaments and telecommunications. Now New Delhi is evaluating the implications of the Supreme Court ruling on the new trade scenario.