# Trade Act of 1974 Type: Technology Source: Retail Intelligence Brief — https://getretailbrief.com/entity/trade-act-of-1974-technology Canonical HTML page: https://getretailbrief.com/entity/trade-act-of-1974-technology ## Timeline - **2026-07-24**: 150-Day Expiration — The initial legal window for the Section 122 surcharge expires, requiring renewal or new authority. - **2026-03-05**: Multi-State Lawsuit — 24 states file suit in the U.S. Court of International Trade to block the new tariffs. - **2026-03 (expected)**: Presidential Proclamation — Formal signing of the new tariff regime under Section 122 authority. - **2026-02-25**: Greer Policy Confirmation — USTR Jamieson Greer confirms China tariffs will stay at 35-50% to maintain market stability. - **2026-02-24**: Tariffs Effective — The new 10% global tariff takes effect for all imports. - **2026-02-21**: Section 122 Invocation — President Trump signs an executive order imposing a 10% global tariff surcharge under the Trade Act of 1974. - **2026-02-20**: Supreme Court Ruling — SCOTUS strikes down IEEPA-based tariffs in a 6-3 decision, citing lack of explicit Congressional authorization. - **2026-02-20**: Vance Response — VP JD Vance criticizes the court on X, claiming the ruling undermines the President's ability to protect American industry. - **2026-02-20**: Supreme Court Ruling — SC rules 6-3 against the administration's use of IEEPA for broad import tariffs. - **2026-02-20**: Executive Order Signed — Trump invokes Section 122 of the Trade Act of 1974 to impose a 10% global tariff. - **2026-02-20**: Section 122 Invoked — Trump administration announces new 10% tariffs using the Trade Act of 1974. - **2026-02-15**: SCOTUS Ruling — Supreme Court rules 6-3 that IEEPA cannot be used for broad global tariffs. - **2026-02**: Supreme Court Ruling — Justices block the use of IEEPA for sweeping trade tariffs, forcing a legal strategy shift. - **2026-02**: Section 122 Announcement — Trump announces intent to use the Trade Act of 1974 to set a 15% global tariff floor. - **2025-12-31**: Record Revenue — U.S. customs duties hit $287B for the fiscal year, up 192%. ## Recent coverage (5 stories) ### Retailers Face 10% Import Tax Until at Least July 24 After Court Decision 2026-06-12 00:30:17 · Sentiment: Bearish · Impact: 6/10 · Sources: 4 The Federal Circuit’s stay keeps a 10% duty on all imported consumer goods, raising costs for retailers and threatening higher shelf prices. With the tariff set to expire in weeks, uncertainty clouds inventory planning for the holiday season. Full story: https://getretailbrief.com/story/retail-import-costs-10-percent-tariff-court-ruling-2026 ### 24 States Challenge Trump's Section 122 Tariffs Following SCOTUS Defeat 2026-03-06 00:31:52 · Sentiment: Bearish · Impact: 8/10 · Sources: 2 A coalition of 24 states has filed a lawsuit against the Trump administration's new 10% global tariffs, alleging an unconstitutional overreach of executive power. The legal challenge centers on the unprecedented use of Section 122 of the Trade Act of 1974 following a Supreme Court ruling that invalidated previous tariff measures. Full story: https://getretailbrief.com/story/states-sue-trump-administration-section-122-tariffs ### US to Maintain China Tariffs at 35-50% Amid Legal Shift and Xi Meeting 2026-02-26 00:17:03 · Sentiment: Neutral · Impact: 8/10 · Sources: 2 The Trump administration will maintain existing China tariffs between 35% and 50% to ensure market continuity following a Supreme Court ruling that invalidated previous legal justifications. US Trade Representative Jamieson Greer confirmed the move as a strategic baseline ahead of a high-stakes summit between President Trump and President Xi Jinping. Full story: https://getretailbrief.com/story/us-china-tariffs-continuity-trump-xi-summit ### Trump Pivots to Section 122 for 10% Global Tariff After Supreme Court Defeat 2026-02-21 04:30:38 · Sentiment: Bearish · Impact: 8/10 · Sources: 2 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. Full story: https://getretailbrief.com/story/trump-global-tariff-section-122-retail-impact ### Supreme Court Curbs Tariff Powers; White House Pivots to Trade Act Surcharges 2026-02-21 00:27:49 · Sentiment: Bearish · Impact: 8/10 · Sources: 2 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. Full story: https://getretailbrief.com/story/supreme-court-tariff-ruling-trump-response --- This page is a machine-readable summary. Sentiment measures the directional read of each development for this entity, not the tone of the reporting; impact weights consequence, not syndication reach. See https://getretailbrief.com/guides/methodology for the full editorial methodology.