Last mentioned: Feb 21, 2026
Tariff Expiration
Projected expiration of Section 122 tariffs unless Congressional extension is granted.
Tariff Expiration Date
The 150-day window for Section 122 tariffs expires unless Congress intervenes.
150-Day Deadline
The Section 122 tariffs will expire unless Congress votes to extend them beyond this date.
Section 122 Implementation
The administration prepares an executive order to levy tariffs under the 1974 Trade Act.
SCOTUS Ruling
The Supreme Court strikes down IEEPA tariffs as an illegal use of emergency powers.
Section 122 Announcement
Trump signs executive order for a 10% global tariff under the 1974 Trade Act.
SCOTUS Ruling
The Supreme Court strikes down IEEPA-based tariffs in a 6-3 decision.
Trump Response
President Trump lashes out at the court and announces a 10% global tariff pivot.
Section 122 Order
Trump signs an executive order invoking Section 122 of the 1974 Trade Act.
SCOTUS Ruling
The U.S. Supreme Court strikes down IEEPA tariffs as an illegal use of emergency powers.
Section 122 Pivot
Trump announces a new 10% global tariff via executive order under the 1974 Trade Act.
SCOTUS Ruling
The U.S. Supreme Court strikes down IEEPA-based tariffs in a landmark 6-3 decision.
Trump Response
President Trump lashes out at the court and announces a new 10% global tariff plan.
IEEPA Tariffs Imposed
Trump administration levies reciprocal tariffs on global partners, including Canada.
IEEPA Tariffs Imposed
Trump administration levies 35% reciprocal tariffs on global partners.
The U.S. Supreme Court has ruled that President Trump's use of emergency powers to levy broad tariffs was illegal, providing a temporary reprieve for trade partners. However, the administration immediately countered with a new 10% global tariff plan under the 1974 Trade Act, creating fresh uncertainty for Canadian exporters and CUSMA protections.
The U.S. Supreme Court has ruled that tariffs imposed under the International Emergency Economic Powers Act are illegal, nullifying 35% duties previously aimed at Canadian goods. However, President Trump immediately countered with a 10% global tariff under the 1974 Trade Act, creating new uncertainty for North American supply chains.
The U.S. Supreme Court has ruled that President Trump’s use of the International Emergency Economic Powers Act to levy broad tariffs was illegal, providing a temporary reprieve for global trade partners. However, the administration immediately countered with a new 10% global tariff under Section 122 of the 1974 Trade Act, creating fresh uncertainty for Canadian exporters and the CUSMA framework.
The U.S. Supreme Court has ruled 6-3 that tariffs imposed under the International Emergency Economic Powers Act (IEEPA) are illegal, nullifying President Trump's previous 35% levies. While Canadian CUSMA-compliant exports remain largely unaffected, Trump's immediate pivot to Section 122 of the 1974 Trade Act introduces new 150-day global tariffs and fresh regulatory uncertainty.