Section 122 Global Tariff: Trump Announces 10% Rate After Supreme Court Blocks IEEPA
President Trump announced a 10% Section 122 global tariff after the Supreme Court ruled that IEEPA cannot be used to impose broad import duties. The new measure replaces the previously discussed reciprocal tariff framework and consolidates it into a flat global rate. Section 232 and Section 301 tariffs remain in effect. For importers, this shifts the legal authority but not the cost exposure. Companies should review landed cost models, open purchase orders, and contract structures as implementation details are expected soon.