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U.S. President Donald Trump has announced a temporary 10% global import tariff after the Supreme Court struck down his previous tariff program imposed under the International Emergency Economic Powers Act (IEEPA). The new tariffs, signed through executive orders, will take effect Tuesday under Section 122 of the Trade Act of 1974 and remain in place for up to 150 days.
The move replaces duties ranging from 10% to 50% that the high court ruled illegal, while halting collection of the invalidated tariffs. Section 122 allows the president to impose tariffs of up to 15% for 150 days to address significant balance of payments deficits without requiring a formal investigation. The administration justified the action by citing a “large and serious balance of payments deficit” that it said is worsening.
Certain exemptions remain intact, including aerospace products, passenger vehicles and light trucks, USMCA-compliant goods from Mexico and Canada, pharmaceuticals, critical minerals, and selected agricultural products. Treasury Secretary Scott Bessent stated that the revised tariff structure, along with potential measures under Section 301 and Section 232, would keep overall tariff revenue in 2026 largely unchanged.
Trump also directed the U.S. Trade Representative to launch new Section 301 investigations into alleged unfair trade practices by specific countries, though no official targets were named. Existing probes involving China and Brazil could expand to include other major trading partners such as Vietnam and Canada. While Section 301 investigations typically take up to a year, the administration indicated it would move faster.
Legal challenges are expected, but experts note that the 150-day limit could outlast court proceedings. Meanwhile, roughly $175 billion in tariff revenue collected under the invalidated IEEPA measures may face refund disputes, a process Trump suggested could take years to resolve.
The shift toward established trade statutes introduces more structured procedures and public comment requirements, potentially bringing greater transparency to U.S. trade policy while maintaining leverage in ongoing trade negotiations.
