Last mentioned: 5h ago
Statutory Deadline
The 150-day window for Section 122 tariffs expires unless extended by Congress.
Geneva Summit
Scheduled meeting between Abbas Araghchi and Steve Witkoff to discuss nuclear terms.
Expected Implementation
Tariffs projected to take effect at U.S. ports of entry.
Scheduled Vote
Original date for the European Parliament trade committee to approve the EU-US deal (now in doubt).
Parliament Deliberation
Bernd Lange to call for a pause on legislative work regarding the EU-US trade deal.
USTR Response
Jamieson Greer issues statement affirming the stability of bilateral trade deals.
EU Formal Response
European Commission demands 'full clarity' and insists the U.S. honor its trade commitments.
Araghchi Interview
Iran's Foreign Minister signals a draft proposal is ready for diplomatic review.
Executive Order Signed
Trump signs 10% global tariff order under Section 122 from the Oval Office.
SCOTUS Ruling
Supreme Court rules against the administration's broad tariff-setting authority.
Global Duty Announced
Trump announces a 15% global import duty; Sefcovic speaks with Greer and Lutnick.
Tariff Retaliation
Trump announces a 15% global tariff and criticizes the 'disloyal' judiciary.
Supreme Court Ruling
SCOTUS rules 6-3 that the administration overstepped authority using IEEPA for broad tariffs.
Supreme Court Ruling
U.S. Supreme Court rules much of the administration's IEEPA-based tariff campaign is illegal.
SCOTUS Ruling
Supreme Court strikes down emergency tariff powers used by the executive branch.
Legal Challenges
Industry groups and trading partners file suits reaching the US Supreme Court.
Tariff Implementation
Trump administration expands unilateral tariffs using national security justifications.
The U.S. faces a dual-front crisis as the Supreme Court strikes down emergency tariff powers, prompting President Trump to retaliate with a 15% global levy. Simultaneously, Iran signals a potential diplomatic breakthrough in Geneva despite the largest U.S. military buildup in the Middle East since 2003.
The European Commission has issued a stern demand for the United States to uphold its bilateral trade commitments following President Trump's announcement of a 15% global import duty. The move comes immediately after a U.S. Supreme Court ruling limited the administration's tariff powers, creating a fresh wave of volatility in transatlantic relations.
US Trade Representative Jamieson Greer clarified that existing bilateral trade agreements remain legally sound despite a Supreme Court ruling against the administration's broader tariff policies. The statement aims to reassure global markets and trading partners that negotiated deals will not be unraveled by the judicial setback.
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.