Overview
- Treasury Secretary Scott Bessent said the temporary global tariff imposed under Section 122 will likely increase from 10% to 15% this week, a measure capped at 150 days unless Congress extends it.
- More than 20 states led by attorneys general from Oregon, Arizona, California and New York sued in the Court of International Trade to block the tariffs, arguing Section 122 does not authorize broad, across-the-board import taxes.
- Judge Richard Eaton ordered the government to begin returning IEEPA-based tariffs with interest, ruling that all registered importers are entitled to benefit from the Supreme Court’s February decision.
- CBP told the court it cannot comply with the refund order as written and is developing an automated process expected in about 45 days, estimating $166 billion paid by over 330,000 importers across more than 53 million entries.
- Administration officials signaled they will pursue other trade authorities, including Sections 301 and 232, over roughly five months to restore prior tariff levels, as companies continue litigation and refund timing remains uncertain.