The US President Trump signed a new 10 percent across-the-board tariff set to take effect Tuesday.

Axar.az, citing The New York Times, reports that he invoked Section 122 of the 1974 Trade Act as an alternative authority and signaled possible additional actions under Section 301.

"The Supreme Court's ruling on tariffs is deeply disappointing and I'm ashamed of certain members of the court. Absolutely ashamed for not having the courage to do what's right for our country." said Trump in his first remarks after stepping to the podium.

Canada and Mexico will be exempted under their North American trade pact, while certain goods such as some food products and critical minerals are excluded.

The ruling creates uncertainty for global markets, the federal budget, and U.S. importers. Economists estimate the struck-down tariffs accounted for roughly half of the projected $3 trillion in revenue over nine years. Businesses may seek refunds exceeding $100 billion, though the process could take months or years and may not result in lower consumer prices.