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Fortune

Jason Ma

Trump's sudden decision to hike his new tariff rate to 15% is 'something of an eff you' to the U.K., which thought it had a better deal for 10%

Donald Trump European Union Paul Ashworth Japan America

(Credit: VAN VUCCI/POOL/AFP via Getty Images)

Less than 24 hours after President Donald Trump signed an order establishing a new 10% global tariff, he announced an increase to 15%, upending one of his signature trade deals in the process.

The abrupt change followed the Supreme Court’s ruling Friday that struck down his tariffs under the International Emergency Economic Powers Act. Hours after the decision, he imposed a 10% rate under Section 122 of the 1974 Trade Act, then hiked the new duty on Saturday morning.

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