Trump announced that he had signed an executive order imposing a “global” tariff of 10% on imports from all countries of the world.

The White House clarified that the decree will be in effect for 150 days and will come into force on February 24. “With this step, the United States will be able to stop the outflow of its dollars to foreign producers,” the statement said. “By increasing domestic production, the United States will be able to correct its balance of payments deficit, create high-paying jobs and reduce costs for consumers.”

It also said the Supreme Court’s “disappointing decision will not deter the President in his efforts to reformat a long-flawed global trading system that has damaged economic and national security.”

On February 20, the US Supreme Court ruled that President Donald Trump violated federal law when he unilaterally imposed tariffs on most countries around the world. Six judges voted for this decision, three were against. Chief Justice John Roberts, speaking on behalf of the justices, said the president should have gotten permission from Congress to impose the tariffs. The emergency powers invoked by Trump, according to the court, do not meet the requirements of the law.

Justice Brett Kavanaugh, who voted against it, said Trump still has other tools to impose tariffs similar to those challenged by the court.

The court’s decision invalidates the tariffs imposed under the International Emergency Economic Powers Act (IEEPA). Tariffs on steel and aluminum imposed under other laws remain in effect.

Israeli media note that the Supreme Court’s decision means the abolition of the 15 percent tariffs imposed on Israeli exports in many industries. It is not yet clear what will happen to the funds already paid, and whether they will be returned to the companies.