Last mentioned: Feb 24, 2026
Implementation Deadline
New 15% duties take effect as CBP stops collecting invalidated IEEPA tariffs.
Market Reaction
News of the lawsuit breaks, signaling the start of a potential multi-billion dollar refund wave for major importers.
EU Postponement
European Parliament delays a vote on the U.S. trade deal in response to tariff uncertainty.
FedEx Filing
Federal Express Corp and FedEx Logistics file a lawsuit in the U.S. Court of International Trade seeking a full refund.
Duty Raised to 15%
The administration increases the proposed duty to the statutory maximum of 15%.
10% Duty Announced
Trump announces a temporary 10% duty under Section 122 of the Trade Act of 1974.
SCOTUS Ruling
The Supreme Court rules that tariffs imposed under the IEEPA were an unlawful overreach of executive power.
FedEx has launched a landmark lawsuit against the U.S. government seeking a total refund of duties paid under Trump-era emergency tariffs recently declared illegal by the Supreme Court. The move marks the first major corporate legal action since the ruling and could trigger a wave of multi-billion dollar refund claims across the logistics and retail sectors.
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.