US President Donald Trump has warned countries against backing away from recently-negotiated trade deals with the US after the Supreme Court struck down his emergency tariffs.
In a series of social media posts, Trump threatened to hit any countries prevaricating with much higher duties under different trade laws.
Trump said he also might impose licence fees on trading partners as uncertainty over his next tariff moves gripped the global economy and sent stocks lower.
"Any Country that wants to 'play games' with the ridiculous supreme court decision, especially those that have 'Ripped Off' the USA. for years, and even decades, will be met with a much higher Tariff, and worse, than that which they just recently agreed to. BUYER BEWARE!!!" Trump wrote on Truth Social.
Trump said that despite the court's decision to invalidate his tariffs under the International Emergency Economic Powers Act, its decision affirmed his ability to use tariffs under other legal authorities "in a much more powerful and obnoxious way, with legal certainty, than the Tariffs as initially used".
He suggested that the US could impose new licence fees on trading partners, but did not provide any details.
In Brussels, the European Parliament decided on Monday to postpone a vote on the European Union's trade deal with the US after Trump imposed a new temporary import duty of 15 per cent on imports from all countries.
EU goods under the deal would face a 15 per cent US tariff, with exemptions for hundreds of food items, aircraft parts, critical minerals, pharmaceutical ingredients and other goods, while the EU would remove duties on many imports from the US, including industrial goods.
Trump on Friday initially announced the temporary duty under Section 122 of the Trade Act of 1974 at 10 per cent, but raised it to 15 per cent, the maximum allowed under the statute, on Saturday.
The new duty is set to take effect on Tuesday. At that same moment, the US Customs and Border Protection agency said it would stop collecting the now-illegal IEEPA duties, more than three days after the Supreme Court's ruling.
Wall Street stocks ended lower on Monday as renewed tariff uncertainty following the Supreme Court decision and concerns about artificial intelligence-fuelled disruption unnerved investors.
The Dow Jones Industrial Average fell 1.65 per cent, the S&P 500 fell 1.02 per cent, while the tech-heavy Nasdaq Composite fell 1.01 per cent.
The dollar weakened against the euro and the yen. The path forward for Trump's foreign trade deals remained uncertain, with China urging Washington to scrap tariff measures, the EU freeze on its approval and India delaying planned talks.
