00:02President Donald Trump's new global tariffs take effect today, but not at the rate he threatened over the weekend.
00:08Instead of the 15 percent tariff Trump announced on Saturday on social media, the administration is implementing a 10 percent
00:16worldwide rate.
00:17The level originally outlined after the U.S. Supreme Court ruled he lacked authority to impose his sweeping Liberation Day
00:24tariffs under the International Emergency Economic Powers Act.
00:28An administration official told the Financial Times the White House still plans to raise the rate to 15 percent.
00:35The official said that increase will come later, but offered no timeline.
00:39The back and forth has created uncertainty overseas.
00:43The European Commission voted in an emergency meeting Monday to delay ratification of the EU's trade deal with the United
00:50States, citing the need for clarity on U.S. tariff policy.
00:53Trump also warned on social media that any country that tries to play games with the Supreme Court decision could
01:01face a much higher tariff.
01:03Meantime, on Capitol Hill, Senate Democrats are pushing for refunds of billions of dollars collected under the tariffs that the
01:10court ruled were unlawful.
01:12FedEx has now filed a lawsuit seeking a full refund of the tariffs it paid.
01:17The company did not specify an amount, but analysts say other major corporations are likely to follow.
01:23Other big-name companies, such as Costco, Staples, and Bumblebee Foods, have already done so.
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