Last mentioned: 15h ago
Implementation Deadline
New 15% duties take effect at 12:01 AM EST as IEEPA collections cease.
EU Postponement
European Parliament decides to postpone a vote on the EU-U.S. trade deal.
Duty Escalation
The administration raises the Section 122 duty to 15%, the statutory maximum.
Initial Section 122 Announcement
Trump announces a temporary 10% duty under Section 122 of the Trade Act of 1974.
President Trump has issued a stern warning to international trade partners following the European Union's decision to pause a significant trade agreement. The move signals a potential escalation in transatlantic trade tensions, threatening to disrupt global supply chains and market stability.
Following a Supreme Court ruling invalidating his IEEPA-based tariffs, President Trump has warned global trading partners against reneging on trade agreements. The administration is now pivoting to Section 122 of the Trade Act of 1974, imposing a 15% duty while threatening even more aggressive measures.