Overview
- U.S. Customs and Border Protection will stop collecting tariffs struck down under IEEPA at 12:01 a.m. Tuesday, with a new universal 15% surcharge taking effect under Section 122 of the 1974 Trade Act.
- The temporary measure can run for up to 150 days before requiring congressional engagement, and the administration is preparing longer‑term actions under Sections 301, 232 and 338.
- The White House says broad exclusions will apply, including for critical minerals and goods already covered by separate duties, to limit immediate price impacts.
- The European Commission has requested formal clarity and the European Parliament is moving to pause ratification of the Turnberry agreement, as partners assess potential responses; China warned it will defend its interests.
- Refunds for previously collected tariffs remain unresolved, with estimates ranging from roughly $130 billion to more than $175 billion as states and companies file claims and U.S. officials signal they aim to avoid broad repayments.