President Donald Trump’s new baseline global tariff of 10% comes into effect after the Supreme Court struck down his earlier, sweeping levies. The White House said he could impose this under the 1974 Trade Act without need for congressional approval.

President Donald Trump upped new tariffs he announced after the Supreme Court ruled against his emergency tariffs on Feb. 20.

U.S. stocks slumped after President Donald Trump ramped up his newest tariffs, while investors continued to punish companies that could be losers in the artificial-intelligence revolution

A European Union assessment found that President Donald Trump’s new tariff policy will increase levies on some of the bloc’s exports, including cheese and some agricultural products, above the level permitted in their trade agreement.

President Trump said Saturday that he will raise global tariffs to 15% after the Supreme Court struck down a set of sweeping global tariffs in a decision last week. CBS News White House reporter Olivia Rinaldi has more.

Tariffs need to become law or the federal budget will take a hit. Lawmakers have less than 150 days to decide.

President Donald Trump on Monday threatened countries around the world to abide by any tariff deals they agreed to despite the U.S. Supreme Court ruling that struck down many of his far-reaching taxes on imports.

This runs counter to the stability and predictability we sought to achieve with the Turnberry deal,” said Bernd Lange, chair of the European Parliament’s trade committee, referencing the U.S.-E.U. trade agreement struck in Turnberry,