US President Donald Trump has furiously imposed 10 percent blanket tariffs on countries all over the globe as he furiously responds to the Supreme Court’s striking down of his economic agenda. He said that he will sign an executive order today to impose a 10 percent global tariff under Section 122 of the Trade Act of 1974, which allows him to apply blanket tariffs for up to five months.

Upset over the Supreme Court’s ruling, Mr Trump said: “Today, I will sign an order to impose a 10pc global tariff under Section 122, over and above our normal tariffs already being charged. And we’re also initiating several section 301, and other investigations to protect our country from unfair trading practices of other countries.”

While addressing the media, he claimed that he now has “more power” to impose tariffs on America’s trading partners.

He continued: “While I am sure that they did not mean to do so, the Supreme Court’s decision today made a president’s ability to both regulate trade and impose tariffs more powerful and more crystal clear, rather than less. The Supreme Court did not overrule tariffs, they merely overruled a particular use of IEEPA.”

According to the US President, previously imposed tariffs will remain in place and “in full force”. He even threatened to ‘destroy the trade’ for any country as he spoke about other ways to impose tariffs.

Mr Trump said the court’s ruling declared he’s not allowed to “charge one dollar to any country”, but he assumes this was done to protect other countries.

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He said he is, however, allowed to cut off any and all trade or business or embargo a country. He said: “In other words, I can destroy the trade, I can destroy the country. But I can’t give them a little fee”.

Mr Trump said his administration would be tied up in court “for the next five years” over businesses seeking tariff refunds. He indicated that companies pursuing repayments could face significant delays, noting that the Supreme Court did not clarify whether the administration is required to return levies already collected.

He said: “I guess it has to get litigated … it’s not discussed, we’ll end up being in court for the next five years.”