U.S. President Donald Trump has announced an increase in planned global tariffs to 15%, following a Supreme Court ruling that struck down his previous import taxes.

• The new 15% tariff rate is a temporary measure under Section 122 of the 1974 Trade Act and could affect countries like the United Kingdom and Australia.
• This action by President Trump comes after the Supreme Court found he overstepped his powers in imposing tariffs using the International Emergency Economic Powers Act (IEEPA).
• The ruling also raises questions about potential refunds for hundreds of billions of dollars collected under the previous tariffs, with various business groups urging swift reimbursement.