Trump warns trade partners not to "play tricks," or face higher tariffs

BlockBeats News, February 24 — U.S. President Donald Trump posted on social media warning that any country attempting to deviate from recent trade agreements or “play tricks” after the U.S. Supreme Court rejects its emergency tariffs implemented under the International Emergency Economic Powers Act will face “much higher” tariffs and more severe consequences.

He stated that although the relevant emergency tariffs have been ruled invalid, the government can still impose “more powerful” tariffs under other trade laws, and even hinted at the possibility of imposing new licensing fees on trading partners.

Previously, the Trump administration announced temporary tariffs of up to 15% on imported goods under Section 122 of the Trade Act of 1974. The new tariffs will take effect early Tuesday Eastern Time. Due to uncertainty surrounding tariff policies, Wall Street stocks plummeted on Monday. The European Union has postponed a vote on the U.S.-EU trade agreement, and negotiations with countries like India have also been delayed. U.S. Trade Representative Katherine Tai indicated that the government expects to initiate a new Section 301 investigation to pave the way for further tariff increases.