Trump raises global tariff to 15%

"Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been 'ripping' the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level," Trump wrote on Truth Social.

"During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of Making America Great Again - GREATER THAN EVER BEFORE!!!" Trump added.

"It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately," Trump wrote in a Truth Social post Friday evening.

The order was issued under Section 122 of the Trade Act of 1974 and applies in addition to the standard tariffs that are already in place, the president announced during a White House press briefing Friday afternoon.

The president noted he will pursue "alternatives" to tariffs under emergency law.

Trump called the ruling "deeply disappointing," saying he was "ashamed" of certain members of the court.

Fox News' Alexandra Koch, Alex Nitzberg, Jacqui Heinrich and Charles Creitz contributed to this report.