Last mentioned: 6h ago
Implementation
Tariffs expected to take effect at U.S. ports of entry.
Geneva Summit
Scheduled meeting between Iranian officials and U.S. envoy Steve Witkoff.
Parliament Vote
Scheduled vote for the EU-US trade deal in the European Parliament (now in doubt).
EU Response
European Commission demands the US honor the existing Joint Statement trade deal.
SCOTUS Ruling
Supreme Court invalidates the use of IEEPA for broad tariff implementation.
15% Global Tariff
President Trump announces a universal 15% levy on all foreign imports.
Tariff Announcement
Trump announces 10% global tariff on Truth Social from the Oval Office.
Executive Order Signed
New tariffs signed under Section 122 of the Trade Act of 1974.
Tariff Hike
President Trump announces a 15% global import duty despite the court ruling.
Supreme Court Ruling
SC rules 6-3 that IEEPA-based tariffs overstepped executive authority.
SCOTUS Ruling
US Supreme Court rules much of the administration's tariff campaign under IEEPA is illegal.
Draft Proposal Announced
Iranian FM Araghchi signals a nuclear deal draft will be ready within days.
The U.S. Supreme Court has invalidated the administration's use of emergency powers to impose broad trade tariffs, prompting President Trump to immediately announce a 15% global tariff. Simultaneously, high-stakes nuclear negotiations with Iran are reaching a critical juncture in Geneva against the backdrop of a massive U.S. military buildup.
The European Commission is urging the United States to uphold a bilateral trade agreement following President Trump's decision to implement a 15% global import duty. This move comes immediately after a US Supreme Court ruling against the administration's use of emergency powers for tariffs, creating significant volatility for international supply chains.
US Trade Representative Jamieson Greer confirmed that specific bilateral trade agreements remain in effect despite a recent Supreme Court ruling against the administration's broader tariff policies. This provides a critical layer of certainty for supply chain managers navigating a volatile regulatory landscape.
President Trump has signed an executive order imposing a blanket 10% global tariff on all imports, pivoting to Section 122 of U.S. trade law after the Supreme Court curtailed his previous authority. The move, effective almost immediately, creates a 150-day window of heightened costs for all international supply chains without the possibility of country-specific exemptions.