Last mentioned: 1d ago
Projected Deadline
Final window for many retrospective refund claims on 2024 imports.
Implementation Date
Scheduled start date for the new global tariff regime according to White House fact sheets.
Escalation to 15%
Trump raises the tariff rate to the legal maximum of 15% via a social media post.
Refund Warning
Reports emerge that billions remain unclaimed by distributors and retailers.
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.
Exclusion Portal Opens
USTR begins accepting applications for specific product exclusions.
Tariff Expansion
New rounds of Section 301 tariffs implemented on consumer goods.
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.
U.S. distributors and retailers are facing a critical deadline to claim refunds on tariffs, with billions of dollars in potential recoveries at risk due to administrative complexity. Failure to navigate 'importer of record' documentation and strict filing windows could lead to significant balance sheet hits for mid-market firms.