New tariffs have taken effect following last week’s Supreme Court decision invalidating the reciprocal tariffs that had been imposed under the International Emergency Economic Powers Act (IEEPA).
The White House has cited Section 122 of the Trade Act of 1974 to levy a 10 percent tariff on imports from nearly every foreign country. Unlike the overturned IEEPA tariffs, however, these new duties may require congressional approval to remain in place beyond 150 days.
The Trump administration has also clarified that the suspension of the $800 import de minimis threshold, which took effect last year, will remain in place.
Legal challenges related to both the newly implemented tariffs and potential reimbursements stemming from the invalidated IEEPA tariffs are expected in the coming weeks. In addition, the Trump administration is also likely to initiate new investigations under Section 301 that could result in new tariffs. The NCC will continue to closely monitor these and other trade developments.