Overview
- The Supreme Court ruled 6–3 that the International Emergency Economic Powers Act does not authorize presidential tariffs, scrapping emergency duties used for a large share of imports.
- A 10% global surcharge under Section 122 took effect Tuesday for up to 150 days, with officials preparing a move to 15% and signaling higher rates could apply to select countries.
- U.S. Trade Representative Jamieson Greer says the administration will use Section 301 and Section 232 investigations to rebuild durable tariffs within months without waiting for Congress.
- Refunds for IEEPA-era collections were not addressed by the Court; businesses are pursuing claims as experts warn of complex, lengthy litigation over sums estimated in the hundreds of billions.
- Key partners are reassessing ties, with the EU pausing a ratification vote, India postponing talks, Indonesia noting its deal is unratified, and China warning it may respond.