Asia Society

organization

Last mentioned: 1d ago

Timeline

  1. Implementation Date

    Tariffs are scheduled to go into effect at 12:01 a.m. ET according to White House fact sheets.

  2. Escalation to 15%

    Trump increases the rate to 15% via Truth Social, citing Section 122 authority.

  3. SCOTUS Ruling

    Supreme Court invalidates the administration's use of emergency powers for global tariffs.

  4. 10% Announcement

    Trump announces a 10% global tariff in immediate response to the court's decision.

Stories mentioning Asia Society 1

Regulation Bearish

Trump Invokes Section 122 for 15% Global Tariffs After SCOTUS Defeat

President Donald Trump has escalated global import duties to a 15% maximum, pivoting to Section 122 of the 1974 Trade Act after the Supreme Court invalidated his previous emergency-power tariffs. This temporary measure faces a 150-day legislative deadline and significant skepticism from a Republican-controlled Congress concerned about inflation.

2 sources