Mahmoud Mohieldin, the United Nations Special Envoy for Development, has made it clear that the US Supreme Court’s decision on tariffs cannot be seen as a fatal blow to President Donald Trump’s economic and trade agenda, as long as it reflects the state of confusion, ambiguity and uncertainty surrounding the US trade scene at this stage.
arsenal of procedures
Mohiruddin said in an interview with Al Arabiya Business that the US president still has legal proceedings under other laws, such as the 1974 law, and the final outcome has not yet been determined, whether this decision is seen as a strong blow or just a temporary setback.
quick reply
He explained that President Trump’s quick response to announcing that he would raise tariffs by 10% and then 15% within 24 hours raises several questions, the first of which relates to recovering the estimated $132 billion to $170 billion in tariffs that have been deemed illegal and must be paid.
Questions raised
He noted that among the questions raised was the fate of agreements concluded under previous procedures with a number of countries such as the UK and Australia, where commission rates reached around 10%.
He wondered if it would be subject to the new 15% tax rate. Or will the previous agreement continue to be binding on both parties?
