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Trump adds a 10% tariff on all imports three days from nowIn his first reaction to the US Supreme Court striking down the tariffs imposed by the US government, President Donald Trump has decided to impose an additional tariff of 10% citing at least three federal statutes.By CNBCTV18.com February 21, 2026, 1:03:35 AM IST (Updated)2 Min ReadUS President Donald Trump has decided to increase the tariffs on imports coming into America by 10%, over and above the current applicable rates. S&P 500 and the Dollar Index jumped to the day's high soon after the announcement.

"I think they are effective three days from now," he said in his first press conference after the Supreme Court of the US struck down the earlier tariffs as 'illegal'.

The new tariffs would likely be applicable under under Section 122 of the Trade Act of 1974.

The provision empowers the president to address “large and serious” balance-of-payments deficits through import surcharges of up to 15 percent, import quotas, or some combination of the two, according to the Cato Institute, a conservative think-tank based out of Washington, D.C.

"I don't need to ask Congress to take additional action on tariffs," Trump added. 

"I don't think we are going to see global tariffs," Andy Laperriere,  Head of US Policy at Piper Sandler Companies, told CNBC. "I don't think the 10% will apply on Canada and Mexico, two of our biggest trading partners."

Canada and Mexico were earlier exempt from the earlier tariffs imposed under the International Emergency Economic Powers Act (IEEPA).

Emerging MarketsCurrent US TariffsSouth Africa30%Thailand19%Philippines19%Malaysia19%Mexico25%China47.5%South Korea25%Brazil50%Indonesia19%India18%

Trump also said he’d launch additional investigations under Section 301 and Section 232, which he has previously used to place duties on Chinese exports, automobiles and metals.

“Now lower courts are going to have to figure out what’s going to happen to people who paid the tariffs and the government paying out big refunds,” Michael Brenner, senior research analyst and asset allocation strategist at FBB Capital Partners, told CNBC.

The Supreme Court ruling didn’t address the extent to which importers are entitled to refunds, leaving it to a lower court to sort out those issues.

Earlier estimates pegged the likely demands for refunds as high as $170 billion, more than half the total revenue Trump’s tariffs have brought in, according to a Bloomberg report.

Trump also lashed out at the justices who ruled against the tariffs earlier today, calling them a 'disgrace to the nation' and blamed them for being swayed by 'foreign interests and small political movements'.

You can catch all the live updates here.Continue ReadingNote To ReadersWith inputs from agencies.(Edited by : Sriram Iyer)First Published: Feb 21, 2026 12:15 AM ISTTagsglobal marketstrump tariffs