It looks like the Trump Golden Age is over. The Trump Economic Crisis is here, it has been declared by Trump!

[ck4829]

President Trump on Friday said he would sign an executive order to impose 10% tariffs on all nations, replacing part of the tariffs overturned by the Supreme Court on Friday.

What they're saying: "Today I will sign an order to impose a 10% global tariff under Section 122, over and above our normal tariffs already being charged," Trump said in a briefing room.

Between the lines: The provision in the Trade Act of 1974 is fairly sweeping, Unlike the International Emergency Economic Powers Act — which the Supreme Court says cannot be used to impose tariffs — it limits how long tariffs can be imposed and how high the tariffs can be.

It allows Trump to impose tariffs of up to 15% for 150 days to address trade deficits or a dollar crisis.

https://www.axios.com/2026/02/20/trump-global-tariffs-supreme-court-10-percent

Let's see the relevant text of section 122 of that act:

(a) Presidential proclamations of temporary import surcharges and temporary limitations on imports through quotas in situations of fundamental international payments problems
Whenever fundamental international payments problems require special import measures to restrict imports-
(1) to deal with large and serious United States balance-of-payments deficits.
(2) to prevent an imminent and significant depreciation of the dollar in foreign exchange markets, or
(3) to cooperate with other countries in correcting an international balance-of-payments disequilibrium,

https://www.govinfo.gov/content/pkg/COMPS-10384/pdf/COMPS-10384.pdf

Hmm, pretty sure that looking at the text in bold, it is not something you would need to consider using in a golden age, an age of unparalleled prosperity, or if the Dow being 50,000 means something.

So I dunno, sounds kinda economic crisis-y to me.

[Walleye]

1. Most people see a trade deficit with China and think it's because the US is prosperous

He thinks we’re being ripped off. He doesn’t understand trade deficits and somebody should point that out. When he tries to impose these things he doesn’t know what he’s talking about. Other countries are not “ripping us off.” He’s actually making things very difficult for business in this country

[Wednesdays]

4. "...and somebody should point that out."

Oh yeah, his boot-licking sycophant cabinet will get right on that!

[dweller]

2. Sounds like the trillions of $$

his tariffs have taken in (from us) are no longer available …
because he’s pocketed it all

🤔



✌🏻

[bucolic_frolic]

3. Does the act spell an end for the tariffs? Or just limit them to 15% for 150 days?

He'll do 100% Tariffs on day 151.

[Wednesdays]

5. He can impose a 1000% tariff permanently

and just dare the SCOTUS to do something about it.

[Emile]

6. He is dead set on raising our taxes.

[ck4829]

7. Indeed

[AZJonnie]

8. I find your logic here to be unimpeachable!