Overview
- Following the Supreme Court’s 6–3 ruling voiding most IEEPA-based tariffs, the White House set a temporary 15% global duty under Section 122 that begins early Tuesday and can run up to 150 days.
- U.S. Customs and Border Protection said it will stop collecting the invalidated IEEPA duties when the new surcharge starts, leaving prior collections to be sorted out in court.
- President Trump warned that countries reconsidering recent trade arrangements would face higher penalties and floated possible license fees, even as USTR Jamieson Greer said existing deals remain in place.
- Key partners signaled caution: the European Parliament postponed a vote on its U.S. trade deal, India delayed talks, China urged removal of unilateral tariffs, and South Korea began consultations to limit fallout.
- Business groups pressed for swift, automatic refunds on tariffs already paid, lawsuits by importers mounted, and economists flagged renewed policy uncertainty as markets gauged the short window before longer-term measures or investigations under other statutes.