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.
Refund Demands
Governors Newsom and Pritzker demand immediate repayment of $130B to taxpayers.
Tariff Escalation
Trump announces on Truth Social that the rate will increase to 15%.
SCOTUS Ruling
Supreme Court rules 6-3 that the tariffs are illegal and exceed executive authority.
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.
Legal Challenges Mount
Multiple states and trade groups file suit against the Treasury Department.
Tariff Implementation
Trump administration invokes emergency powers to impose sweeping global tariffs.
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.
Following a landmark Supreme Court ruling striking down emergency-power tariffs, Democratic governors are demanding the federal government refund over $130 billion to American households. Governors Gavin Newsom and J.B. Pritzker argue the illegal duties inflated retail prices and harmed working families, setting the stage for a massive fiscal and legal battle.