Last mentioned: 6h ago
Expiration Deadline
Section 122 tariffs expire unless Congress grants formal approval for extension.
Implementation Date
New 15% global tariffs scheduled to go into effect for all US imports.
Tariff Escalation
Trump announces on Truth Social that the rate will increase to 15%.
SCOTUS Ruling
Supreme Court strikes down IEEPA-based tariffs as unconstitutional.
Initial Pivot
Trump signs a proclamation for a 10% replacement tariff under Section 122.
Following a Supreme Court ruling that invalidated previous trade levies, President Trump has announced a new 15% global tariff under the 1974 Trade Act. The move creates immediate supply chain volatility and potential for $130 billion in corporate tax refunds.