The uncertainty felt by stakeholders within the European bloodstock industry appears likely to persist into the summer after US President Donald Trump announced a 15% “global tariff” which will be in place for around five months.
Trump's “reciprocal tariffs”, imposed on most of the rest of the world last April under an emergency powers law, were overturned by the US Supreme Court on Friday in a major blow to the President's economic agenda.
Speaking at the White House on Friday, Trump initially said that the Supreme Court decision affirmed his ability to charge more tariffs under different statutes and that he would impose a 10% levy. However, in a post on Truth Social on Saturday, he confirmed that he would be increasing this to the higher rate of 15%, “effective immediately”.
He added, “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 had previously said that some trade deals negotiated after he imposed his reciprocal tariffs will no longer be valid after the US Supreme Court ruling.
He added, “Some of them stand. Many of them stand. Some of them won't and they will be replaced with the other tariffs.”
It has been reported that over 1,600 horses have been permanently imported into America from Britain and Ireland alone over the past four years. Under Trump's tariffs, imports arriving from Britain were due to incur a 10% tariff, while those coming from the EU were to be charged 15%.
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