US imposes 10 percent tariff after Trump promises 15 percent rate

The Trump administration on Tuesday imposed a 10 percent tariff on all goods not covered by current exemptions, returning to the global rate first announced by President Trump after the Supreme Court struck a blow to the bulk of his emergency import taxes.

U.S. Customs and Border Protection (CBP) released a notice on Monday night showing imports would "be subject to an additional ad valorem rate of 10%," despite Trump suggesting on Saturday that the rate would increase to 15 percent.

The notice cites Section 122 of the Trade Act of 1974, which allows the president to enact tariffs to address "large and serious United States balance-of-payment deficits," U.S. Trade Representative Jamieson Greer previously said Friday. Any levies issued under Section 122 last up to 150 days and are limited to 15 percent of the product's estimated value. Congress must approve on extending these tariffs.