The move comes after Friday's announcement of new tariffs of 10 percent, which was a response to the US Supreme Court's decision to invalidate the president's tariffs.
In the post on his platform, Trump describes the decision as based on a "thorough, detailed and complete review of the ridiculous, poorly written, and extraordinarily un-American tariff decision ... from the United States Supreme Court."
Will be valid from Tuesday
Donald Trump's latest tariff moves have been met with some confusion worldwide because it is still unclear which tariffs are actually in force and which are not.
"It creates a completely different uncertainty; you don't know which tariffs will apply and whether they will apply throughout the year?" Mattias Persson, chief economist at Swedbank, told TT earlier on Saturday.
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According to the White House, the tariffs will take effect as early as Tuesday. However, the presidential order is only valid for 150 days, after which Congress must approve an extension.
Question marks remain
Another question mark concerns the claims for compensation from American companies, which have requested refunds totaling approximately 1.5 trillion kronor for the tariffs that were introduced in connection with the so-called “liberation day.” The Supreme Court did not take a position on this in its decision.
Tariffs are supposed to be decided by the US Congress, but Trump has argued that he had the power to decide on tariffs based on what he considered to be an economic emergency, which was rejected by the country's highest legal body. In response, Trump has now become the first president in US history to invoke Section 122 of the Trade Expansion Act, a form of fast-track authority that allows imposing tariffs without waiting for an official investigation.
Sweden's response
In Sweden, Saturday's new announcement from Trump was met with criticism.
"This is not a serious way to conduct trade policy. The government will guide Swedish companies through the various messages via our customs hotline. At the same time, it is obvious that we need to become less economically dependent on the US. This is best done by finding new markets for Swedish companies. That is why we are working day and night to conclude new free trade agreements with large parts of South America, India and Australia," writes Minister of Development Cooperation and Foreign Trade Benjamin Dousa, in a comment to TT.
