“Increasing the previously imposed tariffs will provide greater support to these industries and reduce or eliminate the national security threat posed by imports of steel and aluminum articles and their derivative articles,” according to the directive, which the White House posted on X.

A three-judge panel rejected the government’s argument that Trump had authority to unilaterally issue tariffs under a law intended to address financial transactions during national emergencies.

Referring to yesterday’s inflation report and calling the Fed chair “Too Late Powell,” the president said on social media that waiting to understand tariffs’ effect on prices is “not fair to America.”

President Trump announced yesterday that a reprieve which exempts a range of popular electronics from his 125% tariffs on China and 10% rate for the rest of the world is temporary.

The actual formula used isn’t how the White House initially signaled the calculations would be done.

China will face a 34% rate, while the EU faces a 20% levy and Vietnam sees a 46% tariff.

One recent study found that tariffs on Canada, Mexico, and China would raise the cost to produce a crossover vehicle by about $4,000, while a U.S.-made EV would jump by about $12,000.

Canada announced new 25% tariffs on about C$30 billion (US$20.8 billion) of U.S.-made products, including steel, aluminum, computers, and sporting goods.