Washington DC, 21/2: US President Donald Trump on Friday signed an executive order that repealed the existing tariffs on all countries after the Supreme Court deemed it to be illegal and also announced new 10 per cent global tariffs under Section 122 of the Trade Act of 1974.
This authority allows for a temporary import surcharge (up to 15 per cent) for 150 days to address balance-of-payments deficits.
