Overview
- The administration implemented a 10% global surcharge under Section 122 on Tuesday for up to 150 days, not the 15% the president had floated.
- U.S. Customs and Border Protection said it would stop collecting the IEEPA tariffs that the Supreme Court struck down.
- Importers and business groups pressed for rapid, automatic repayments estimated at roughly $133 billion, with FedEx suing to recoup duties.
- The high court left refunds to lower courts, and trade lawyers expect a drawn-out process through the Court of International Trade and appeals.
- Trading partners moved to reassess ties — the EU postponed a ratification vote, India delayed talks, and Japan debated its commitments — as the White House signals possible 301 and 232 actions and warns against renegotiation.