Economy

Trump Defies Supreme Court With Aggressive 15% Global Tariff

Published

8 months ago

February 21, 2026

Q Tinny

Trump imposes a 15% global tariff despite Supreme Court ruling, escalating trade tensions and sparking global economic uncertainty

President Donald J. Trump announced a 15 per cent global duty on imports into the United States on Saturday, doubling down on his aggressive tariff policy a day after the Supreme Court struck down much of his authority to levy such levies.

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Trump said on his Truth Social platform that following a review of Friday’s “extraordinarily anti-American decision” by the Court, his administration would raise import duties “to the fully allowed, and legally tested, 15% level.”

The announcement came after the Court’s 6-3 ruling had initially limited Trump’s tariff powers under a 1977 economic emergency statute.

The president also launched a personal attack on the six justices who opposed his authority, calling them “disloyal” and suggesting that foreign interests had influenced the majority.

He praised the three conservative justices — Clarence Thomas, Samuel Alito, and Brett Kavanaugh — who upheld his tariff powers, thanking them “for their strength and wisdom, and love of our country.”

Trump’s move is likely to heighten global economic uncertainty.

The new duty is temporary, allowable for 150 days, with exemptions for certain sectors under separate investigations, including pharmaceuticals, and goods imported under the US-Mexico-Canada trade agreement.

Countries that previously reached separate tariff deals with the administration are also subject to the new global levy.

Friday’s ruling marked a significant legal setback for Trump, his first major Supreme Court defeat since returning to office 13 months ago.

While sector-specific tariffs on steel, aluminum, and other goods remain unaffected, the broader rejection of his authority undermines a cornerstone of his economic strategy.

Shares on Wall Street rose modestly following the decision, while business groups welcomed the clarity. The National Retail Federation described the ruling as providing “much-needed certainty” for companies navigating complex trade regulations.

Trump indicated that litigation over potential tariff refunds could continue for years, with Justice Kavanaugh noting the process could be “a mess.” Several nations, including Germany, are reviewing the ruling and Trump’s follow-up measures.

German Chancellor Friedrich Merz said talks with European allies would precede his planned visit to Washington in early March to formulate a coordinated response.

Domestically, Pennsylvania Governor Josh Shapiro urged Trump to “listen to the Supreme Court, end chaotic tariffs, and stop wreaking havoc on our farmers, small business owners, and families.”

Also read: Trump Sends Second Carrier, Warns Iran of “Bad Day”

Trump’s 15% global tariff underscores his determination to maintain a confrontational trade posture, despite judicial setbacks and growing international scrutiny.

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Economy

NRS Assures Taxpayers VAT Remains at 7.5% Amid Tax Reform Concerns

Published

11 hours ago

October 27, 2026

Peculiar Adirika

NRS VAT rate remains 7.5%, the agency says, while addressing concerns over bank deductions, loans and the implementation of Nigeria’s tax reforms

The Nigeria Revenue Service (NRS) has assured taxpayers that Nigeria’s standard Value Added Tax (VAT) rate remains 7.5 per cent, while addressing concerns over the implementation of the country’s new tax reforms.

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The assurance was given by the Tax Administrator responsible for Kano, Jigawa and Katsina states, Samaila Abdullahi, during an NRS stakeholders’ engagement and tax reform sensitisation programme in Kano.

Abdullahi said concerns raised by individuals, traders, business owners and other stakeholders about the new tax laws were understandable, particularly questions relating to bank transactions, loans, family transfers, business income and the potential impact on small businesses.

He urged taxpayers to understand the reforms through the provisions of the law rather than rely on assumptions or misinformation.

According to him, the tax laws do not automatically authorise deductions from personal bank accounts.

He stressed that tax collection and recovery must follow the applicable legal provisions and procedures.

Abdullahi also clarified that money received as a loan should not automatically be classified as business income or profit, explaining that proper documentation is essential to establish the nature of a transaction.

“For instance, when a trader receives a loan of N500,000, the amount should not automatically be treated as N500,000 in sales or profit, provided the transaction is properly documented,” he said.

The NRS official’s comments were aimed at addressing public concerns about how the new tax framework would affect personal finances and business transactions.

He emphasised the importance of distinguishing between taxable business receipts and other funds, such as documented loans, when determining a taxpayer’s obligations.

The clarification comes amid heightened public interest in Nigeria’s tax reforms and questions about their implications for individuals, traders and small businesses.