President Trump announced plans to increase his recently established global tariff rate to 15%, just one day after putting the original 10% rate into effect.
The president signed the initial proclamation on Monday to establish the 10% worldwide tariff, which was designed to restore certain trade duties that had been overturned by a Supreme Court ruling. However, Trump quickly decided to boost that rate by an additional 5 percentage points.
The tariff adjustment represents a significant shift in trade policy that could impact import costs for businesses and consumers across the country, including here in Delaware.
