Last mentioned: 1d ago
150-Day Expiration
The initial legal window for the Section 122 surcharge expires, requiring renewal or new authority.
Tariff Expiration
Scheduled end of the 150-day emergency tariff period unless extended or challenged.
Tariffs Effective
The new 10% global tariff takes effect for all imports.
Implementation Date
Scheduled start date for the new global tariff regime according to White House fact sheets.
Section 122 Invocation
President Trump signs an executive order imposing a 10% global tariff surcharge under the Trade Act of 1974.
Market Volatility
Markets surge on ruling then stabilize as new 10% tariff details emerge.
Market Reaction
Retailers and e-commerce firms assess the impact of potential refunds vs. new duties.
Escalation to 15%
Trump raises the tariff rate to the legal maximum of 15% via a social media post.
Supreme Court Ruling
SCOTUS strikes down IEEPA-based tariffs in a 6-3 decision, citing lack of explicit Congressional authorization.
Vance Response
VP JD Vance criticizes the court on X, claiming the ruling undermines the President's ability to protect American industry.
SCOTUS Ruling
Supreme Court strikes down unilateral tariff authority in 6-3 decision.
Executive Retaliation
Trump signs executive order repealing old tariffs and proclaiming new 10% levy.
SCOTUS Ruling
Supreme Court strikes down the tariffs in a 6-3 decision.
New Tariff Announcement
White House announces a new 10% worldwide tariff within hours of the ruling.
Supreme Court Ruling
SC rules 6-3 against the administration's use of IEEPA for broad import tariffs.
Executive Order Signed
Trump invokes Section 122 of the Trade Act of 1974 to impose a 10% global tariff.
Supreme Court Ruling
The high court strikes down the administration's use of emergency powers to impose reciprocal tariffs.
10% Tariff Announcement
Trump announces a 10% across-the-board global tariff in response to the court's decision.
Liberation Day
President Trump imposes sweeping global tariffs using IEEPA authority.
President Trump has escalated a proposed global tariff from 10% to 15% using Section 122 of the 1974 Trade Act. The move follows a Supreme Court ruling that blocked his previous use of emergency powers for trade duties.
Following a landmark 6-3 Supreme Court ruling striking down the use of emergency powers for broad import duties, President Trump has invoked Section 122 of the Trade Act of 1974 to impose a 10% global tariff. The move shifts the legal basis for his protectionist agenda while temporarily lowering rates for some partners like India from previously negotiated levels.
The U.S. Supreme Court has invalidated the administration's sweeping global trade duties in a landmark 6-3 ruling, citing an overreach of executive authority. President Trump immediately countered by announcing a new 10% worldwide tariff, signaling a protracted legal battle over billions in potential corporate refunds.
The U.S. Supreme Court has stripped the executive branch of unilateral tariff-setting power in a landmark 6-3 ruling, jeopardizing $175 billion in collected duties. President Trump immediately countered by invoking emergency powers to impose a new 10% blanket tariff on most imports for a 150-day period.
The U.S. Supreme Court has struck down the administration's use of the International Emergency Economic Powers Act (IEEPA) to levy broad-based tariffs, ruling the move exceeded executive authority. In response, President Trump immediately invoked Section 122 of the Trade Act of 1974 to impose a new 10% global tariff surcharge.