From today the new global tariffs of 10% are in force to replace the duties deemed illegal. Meanwhile, FedEx is suing the government to obtain compensation.
At 6 am Italian time the new global tariffs by 10% imposed by the American President Donald Trump by presidential decree, a tariff which however will soon be raised to 15%, as already announced days ago by the American President.
The sentence of Supreme Courtwhich assessed the use made by the as “illegal”. tycoon of theInternational Emergency Economic Powers Act (IEEPA) to impose duties, has not made even a single millimeter of dent in Trump’s will, whose trade policy remains strongly based on the use of duties.
Trump warns countries: “don’t play games”
This is demonstrated by the message published yesterday by the American President on social media, who after having harshly attacked the Supreme Court issued a warning against virtually every country in the world, suggesting not to “play” with the Court’s decision.
“Any country that wants to ‘play’ with the ridiculous Supreme Court decision, especially those that have ‘robbed’ the United States for years, and even decades, will face much higher tariffs than recently agreed upon. BUYERS, BEWARE!!”
The first request for compensation arrives
However, the global tariff fight is also being played out on the American domestic front, where the ruling of the Supreme Court has given rise to compensation claimsalthough the Court did not address the issue of how reimbursements should be managed.
Here are the first lawsuits against the government: The US delivery and freight transport giant, FedEx, sued the Trump administration to recover the money paid for duties declared illegal.
The company, in its lawsuit against the Customs and Border Protection filed with the United States Court of International Tradedemands “full refund” of tariffs paid on imported goods.
Sectoral duties remain unchanged
However, “sectoral” customs duties remain unchangedthat is, those tariffs ranging from 10% to 50% imposed on a whole series of sectors or goods such as copper, automobiles or construction wood.
This is because those duties were not affected by the Supreme Court’s decision, having been imposed using a legal justification other than the IEEPA.
How the new duties work
The 15% tariffs will remain in place for 150 daysi.e. until the end of July, this is because it is postulated by the new legal justification used by Trump, i.e. Section 122 of the Trade Act of 1974.
If Trump decides to extend them (as is very likely to happen), he would then have to appeal to Congress, where Democratic congressmen would certainly vote unanimously against the extension.
Just yesterday, the Democratic leader in the Senate Chuck Schumer he made it known that the party will fight to block any type of extension. At the end of July, however, Republicans will still have majorities in both the House and Senate, so the problem will be skeptical Republicans.
Cautious Europe
Whether it is Trump’s threats or the lack of clarity currently emerging from overseas, the European Union has for the moment limited itself to postpone the vote on the ratification of the trade agreement signed last summer between the EU and the United States in Scotland.
A strategy also confirmed by the president of the International Trade Commission of the European Parliament, the socialist Bernd Lange, who in an intervention to Corriere criticized the new duties, asserting that they create “uncertainty and unpredictability”, while a trade agreement requires “certainty and predictability” to allow businesses and operators to plan trade and investments.
The American President’s tariff hurricane shows no signs of abating, but the uncertainty, starting from compensation and arriving at the trade agreements signed, is only increasing.
