The latest evolution of President Donald Trump's trade war arrived on Thursday evening: New tariffs ranging from 10 percent to 12.5 percent, targeting most of America's largest trading partners.
Those new tariffs replace the so-called "global tariff" of 10 percent that Trump implemented in the wake of the Supreme Court's ruling in February that struck down an earlier set of tariffs. That "global tariff" had been implemented under the auspices of a law that grants the president power to impose temporary tariffs that last no more than 150 days—in other words, that was always a stop-gap solution, and the tariffs announced Thursday are meant to be a more permanent arrangement.
