Overview
- The Court ruled 6–3 that the International Emergency Economic Powers Act does not authorize tariff-setting, with Chief Justice John Roberts writing that tariff power rests with Congress.
- A global 10% duty under Section 122 took effect Tuesday for up to 150 days, the president has signaled an increase to 15% but has not issued a formal order, and any extension beyond 150 days would require Congress.
- Officials say they will pivot to Section 301 and Section 232 for targeted, longer-term measures, with USTR planning new investigations and Treasury projecting “virtually unchanged” tariff revenue this year.
- Customs stopped collecting IEEPA-based levies, potential refunds remain unresolved and likely to be litigated at the Court of International Trade, and trade groups are pressing for an automatic refund process.
- Major partners are pausing or reassessing deals, with the EU freezing a ratification vote and India postponing talks, and analysts say consumers should not expect major price relief as the effective tariff rate is about 13.7% and household costs could reach roughly $600–$800 over 150 days at a 15% rate.