BlockBeats News, February 24 — U.S. President Donald Trump warned on social media that any country attempting to deviate from recent trade agreements or "play tricks" after the U.S. Supreme Court invalidates emergency tariffs imposed 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 implement "more forceful" tariff measures under other trade laws, and even hinted at the possibility of imposing new licensing fees on trade partners. Previously, the Trump administration announced temporary tariffs of up to 15% on imported goods under Section 122 of the Trade Act of 1974, with the new tariffs set to 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 countries like India have also delayed negotiations. U.S. Trade Representative Katherine Tai stated that the government expects to initiate a new "Section 301" investigation to pave the way for further tariff increases.
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BlockBeats News, February 24 — U.S. President Donald Trump warned on social media that any country attempting to deviate from recent trade agreements or "play tricks" after the U.S. Supreme Court invalidates emergency tariffs imposed 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 implement "more forceful" tariff measures under other trade laws, and even hinted at the possibility of imposing new licensing fees on trade partners. Previously, the Trump administration announced temporary tariffs of up to 15% on imported goods under Section 122 of the Trade Act of 1974, with the new tariffs set to 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 countries like India have also delayed negotiations. U.S. Trade Representative Katherine Tai stated that the government expects to initiate a new "Section 301" investigation to pave the way for further tariff increases.