Section 122 of the Trade Act of 1974

Technology

Last mentioned: 8h ago

Timeline

  1. Implementation Date

    The new global tariffs are scheduled to go into effect for all US imports.

  2. Tariff Escalation

    Trump announces on Truth Social that the rate will be increased to the 15% legal maximum.

  3. Supreme Court Ruling

    The high court strikes down IEEPA-based tariffs in a 6-3 decision, citing executive overreach.

  4. Initial Pivot

    Trump signs a proclamation for a 10% temporary tariff under Section 122 of the 1974 Trade Act.

Stories mentioning Section 122 of the Trade Act of 1974 1

Trade Policy Bearish

Trump Escalates Global Tariffs to 15% Following Supreme Court Reversal

Following a Supreme Court ruling that struck down previous import taxes, President Trump has pivoted to a rarely used trade law to impose a 15% global tariff. This temporary measure, effective February 24, creates immediate cost pressures for global supply chains and sets a five-month countdown for Congressional intervention.

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