Last mentioned: Feb 24, 2026
Implementation
The new 15% duty takes effect at 12:01 am EST as CBP halts collection of invalidated IEEPA tariffs.
Implementation Deadline
New 15% duties take effect as CBP stops collecting invalidated IEEPA tariffs.
Asian Markets Reopen
Markets in China and Japan reopen to a weakened dollar and renewed trade volatility.
Asia Markets Reopen
China and Japan markets reopen to a weaker dollar and renewed trade turmoil.
Mandelson Arrested
Former UK envoy Peter Mandelson taken into custody following Epstein file disclosures.
EU Trade Vote Delayed
European Parliament postpones vote on US trade deal citing new tariffs.
Treasury Market Surge
US Treasuries move sharply higher amid renewed tariff and political uncertainty.
Lagos Airspace Closure
FAAN closes Lagos International Airport airspace following a fire outbreak.
Supreme Court Ruling & Warning
SCOTUS strikes down IEEPA tariffs; Trump warns countries not to 'play games' and EU postpones trade vote.
EU Postponement
European Parliament delays a vote on the U.S. trade deal in response to tariff uncertainty.
EU Trade Deal Stalled
European Parliament decides to postpone a vote on the EU-U.S. trade agreement.
EU Trade Delay
European Parliament decides to postpone a vote on the EU-U.S. trade deal.
Duty Escalation
The administration raises the planned Section 122 duty to the statutory maximum of 15%.
Duty Raised to 15%
The administration increases the proposed duty to the statutory maximum of 15%.
Tariff Hike Announced
President Trump raises temporary tariffs from 10% to 15% following the SCOTUS ruling.
Tariff Hike Announced
Trump announces increase of temporary tariffs from 10% to 15% following SCOTUS ruling.
Initial Tariff Announcement
Trump announces a 10% temporary import duty under Section 122 of the Trade Act of 1974.
10% Duty Announced
Trump announces a temporary 10% duty under Section 122 of the Trade Act of 1974.
The U.S. dollar is under pressure following a Supreme Court ruling that limited President Trump's emergency tariff powers, triggering a retaliatory 15% blanket tariff hike. Global markets are bracing for renewed trade volatility as the administration targets key industrial sectors with national security duties.
A U.S. Supreme Court decision striking down emergency tariffs has sparked a trade policy crisis, with President Trump retaliating by raising duties to the legal maximum. The resulting regulatory uncertainty has stalled international trade deals and weakened the U.S. dollar as markets brace for a new wave of protectionism.
Following a Supreme Court ruling striking down his signature tariff regime, President Trump has pivoted to Section 122 of the Trade Act of 1974 to impose a 15% temporary import duty. The administration warned international partners against renegotiating trade deals, threatening even higher penalties for countries that 'play games' with the new legal landscape.
Following a Supreme Court ruling invalidating tariffs under the International Emergency Economic Powers Act, President Trump has pivoted to Section 122 of the Trade Act of 1974. The administration is imposing a 15% temporary import duty while warning global trading partners against abandoning existing agreements.
The arrest of former UK envoy Peter Mandelson following new disclosures from the Epstein files has sent shockwaves through international legal and political circles. Concurrently, the European Parliament has delayed a critical US trade deal vote, citing new tariffs and heightening regulatory uncertainty across the Atlantic.