Last mentioned: Feb 24, 2026
Implementation
New 15% tariffs take effect at 12:01 AM EST; IEEPA collections officially cease.
EU Postponement
The European Parliament delays a vote on the U.S. trade deal in response to the new 15% duty.
Tariff Escalation
The administration raises the proposed Section 122 duty to the 15% statutory maximum.
Initial Section 122 Proposal
Trump announces a temporary 10% import duty under the Trade Act of 1974.
Supreme Court Ruling
The Supreme Court invalidates tariffs imposed under the International Emergency Economic Powers Act (IEEPA).
President Trump has warned global trade partners against abandoning agreements following a Supreme Court ruling that struck down his emergency tariffs. In a strategic pivot, the administration is now leveraging Section 122 of the Trade Act of 1974 to impose a 15% import duty, signaling a more aggressive trade stance.