India, Feb. 21 -- President Donald Trump announced on Friday that he will impose a new 10% global tariff under Section 122, following the Supreme Court's decision to strike down his previous sweeping tariffs.

Speaking at a press conference, Trump said he will sign an order today to "impose a 10% global tariff under Section 122."

He said this would be "over and above our normal tariffs already being charged."

"We're also initiating several sections, 301 and other investigations to protect our country from unfair trading practices of other countries and companies," he added.

Section 122 of the Trade Act of 1974 "authorizes the President to impose temporary import surcharges of up to 15 percent or quotas for no more than 150 days when th...