Geopolitics & Policy
Trump to impose 10% "global" tariff under Trade Act after Supreme Court setback
After a Supreme Court ruling that sharply limited the administration's use of an emergency trade statute, the White House signed an executive order invoking Section 122 of the Trade Act to place an immediate, economy-wide 10% surcharge on imports; the measure expires automatically after 150 days unless Congress acts. The levy stacks on existing Section 232 and Section 301 duties, complicating any large-scale refund effort, prompting new targeted 301 probes and rapid business and market reactions as firms and customs authorities sort out enforcement and recovery mechanics.
