Trump vows to hike global tariffs to 15%
By Abigail Townsend
Date: Monday 23 Feb 2026
(Sharecast News) - Global markets came under renewed pressure on Monday after Donald Trump vowed to increase worldwide tariffs to a blanket 15%.
The Supreme Court struck down the US president's reciprocal tariff regime on Friday. But Trump responded by calling the decision "ridiculous, poorly written and extraordinarily anti-American", and immediately announced a global 10% tariff on all countries.
That was initially slated to come into effect on Tuesday. However, he then announced a new 15% tariff - effective immediately - and warned of more levies to come.
Writing on Truth Social, Trump wrote: "I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been 'ripping' the US off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level.
"During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs."
The Supreme Court ruled by six to three that Trump had wrongfully invoked the International Emergency Economic Powers Act to implement tariffs without seeking approval from Congress. The new tariffs had been invoked under Section 133 of the 1974 Trade Act, which allows the US president to impose temporary levies for 150 days. Extensions require approval from Congress, however.
It is not thought the law has been used before.
It is not currently clear how the new 15% global rate will affect countries, including the UK and Australia, that already had 10% tariff deals in place.
As expected the FTSE 100 opened slightly lower on Monday, as investors reacted to the fresh uncertainty.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: "The UK had seemingly done its homework, securing a 10% trade deal, but the White House's new 15% blanket tariff rather takes the shine off that achievement, dragging the UK back into fresh trade uncertainty.
"The new tariff...is a far blunter instrument than the flexible, targeted tools the administration had been relying on.
"Wall Street ended last week on a high. That optimism is fading somewhat this morning, however, with US futures pointing lower as the dust settles and investors strap back in for another wave of tariff uncertainty."
Richard Hunter, head of markets at Interactive Investor, said: "A weekend of confusion may yet have revived the sell America trade.
"Tariff developments have turned the situation into an unholy mess, prompting far more questions than answers."
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