Trump plans to replace tariffs, salvage trade deals after ruling

President Donald Trump switched to his backup tariff plan after the U.S. Supreme Court said he couldn’t use a 1977 law to impose sweeping tariffs.

Trump announced a fresh round of tariffs hours after the high court invalidated his use of the 1977 International Emergency Economic Powers Act to impose tariffs worldwide. Recent economic research found that Americans paid more than 90% of those import duties.

Trump said he would use other laws to keep the existing tariffs in place and that he would add a 10% global tariff.

“Today I will sign an Order to impose a 10% GLOBAL TARIFF, under Section 122, over and above our normal TARIFFS already being charged,” Trump wrote in a social media post after the ruling.

Trump said that the other tariff laws he plans to use were mentioned in the Supreme Court decision.

“It’s a little more complicated, the process takes a little more time, but the end result is going to get us more money,” Trump said.

The Supreme Court, divided 6...