Last mentioned: 7h ago
Statutory Deadline
The 150-day window for Section 122 tariffs expires unless extended by Congress.
Expected Implementation
Tariffs projected to take effect at U.S. ports of entry.
Effective Date
The global tariffs are scheduled to take effect at 12:01 a.m. ET.
Implementation Date
Scheduled start for the new temporary global tariff regime.
Executive Order Signed
Trump signs 10% global tariff order under Section 122 from the Oval Office.
Rate Hiked to 15%
Trump increases the rate to 15%, citing Section 122 of the 1974 Trade Act.
15% Escalation
Trump announces 15% tariff via Section 122 on Truth Social.
Supreme Court Ruling
SCOTUS rules 6-3 that the administration overstepped authority using IEEPA for broad tariffs.
SCOTUS Ruling
The U.S. Supreme Court invalidates Trump's previous tariff initiative, citing executive overreach.
10% Tariff Announced
Trump announces a 10% global tariff as an immediate reaction to the court's decision.
Supreme Court Ruling
SCOTUS strikes down IEEPA tariffs as unconstitutional revenue generation.
Liberation Day
Global tariffs of 10-50% expanded to nearly all countries under IEEPA.
Initial IEEPA Invocation
Trump imposes tariffs on China, Mexico, and Canada citing fentanyl emergency.
The US Supreme Court struck down President Trump’s previous global tariffs as an unconstitutional overreach of executive power, prompting an immediate pivot to a 15% levy under the 1974 Trade Act. This legal maneuver sets up a five-month window of heightened trade tension before requiring Congressional intervention, potentially triggering $130 billion in refund claims.
President Donald Trump has abruptly increased his proposed global tariff rate from 10% to 15%, the maximum allowed under Section 122 of the 1974 Trade Act. The move follows a Supreme Court ruling that invalidated his previous tariff framework, setting the stage for a 150-day window of heightened trade volatility.
President Donald Trump has signed an executive order imposing a 10% global tariff on all imports, pivoting to Section 122 of the Trade Act of 1974 after the Supreme Court struck down his previous trade measures. The new order is designed to take effect almost immediately, though it carries a 150-day statutory limit unless extended by Congress.