After U.S. President Donald Trump signed an executive order imposing a 10% import tariff on all countries, the White House announced the order is for a period of 150 days and will take effect on February 24. “Through this measure, the U.S. can stem the flow of its dollars to foreign manufacturers,” the statement said. “By increasing domestic production, the U.S. will be able to correct its balance of payments deficit, create high-paying jobs and reduce costs for consumers.” The statement also noted that “the Supreme Court’s disappointing decision will not deter the president from his efforts to reshape the long-distorted global trade system that has harmed economic and national security.”
