SEOUL — President Donald Trump escalated a global trade dispute Saturday, announcing a hike to 15% on a new round of tariffs following a Supreme Court ruling that struck down his previous sweeping tariffs. The decision, delivered Friday, prompted immediate reactions from governments and businesses worldwide as they assess the fallout and brace for further economic shifts.
The Supreme Court’s ruling invalidated many of the tariffs Trump imposed on nearly all U.S. Trading partners, a move initiated 13 months ago upon his return to office. While some exports, including automobiles and steel, were unaffected by the court’s decision, they are now subject to the newly announced tariffs, according to the New York Times.
South Korea’s Trade Ministry convened an emergency meeting Saturday to analyze the implications of the ruling and the subsequent tariff increases. Despite the uncertainty, Seoul indicated that its trade deal with the U.S. Remains intact, according to a statement from the South Korean government reported by Bloomberg. However, the legal foundation of the agreement, which lowered tariffs in exchange for investment, is now in question, as noted by the National Interest.
In Paris, French President Emmanuel Macron acknowledged the importance of checks and balances within democratic systems, praising the “rule of law” in the United States. However, he cautioned against complacency, noting Trump’s swift response with new tariffs. “We’ll look closely at the exact consequences, what can be done, and we will adapt,” Macron said during a visit to a Paris agricultural fair.
Mexico is also preparing for potential economic repercussions. Secretary of the Economy Marcelo Ebrard urged “prudence” and indicated a require to assess Washington’s next steps. Despite concerns, Ebrard highlighted Mexico’s success last year in avoiding a 25% across-the-board levy on all Mexican imports. He plans to travel to the United States next week for further clarification.
The Supreme Court decision also voided tariffs imposed on Mexico, China, and Canada, which the Trump administration had justified as a means to pressure those nations to address fentanyl trafficking. Approximately 85% of Mexican exports to the U.S. Are currently exempt from tariffs due to the United States-Mexico-Canada Agreement (USMCA), which is scheduled for a joint review starting July 1, six years after its initial signing.
In Ciudad Juárez, Mexico, Sergio Bermúdez, head of an industrial parks company, expressed skepticism about Trump’s announcements. “He says a lot of things, and many of them aren’t true,” Bermúdez said, adding that businesses are actively analyzing the potential impact. Alan Russell, CEO of Tecma, which assists American businesses in establishing operations in Mexico, reported a fourfold increase in his company’s workload due to evolving import requirements. “We wake up every day with new challenges. That word ‘uncertainty’ has been the greatest enemy,” Russell stated.
Swissmem, a Swiss technology industry association, hailed the Supreme Court ruling as a “good decision,” noting an 18% decline in exports to the U.S. In the fourth quarter of last year, a period marked by higher U.S. Tariffs. “The high tariffs have severely damaged the tech industry,” said Swissmem President Martin Hirzel. However, he cautioned that the situation remains unsettled.
