Trade Brief: Trump Imposes Temporary Import Surcharge

Trump imposed a temporary 10% import surcharge under Section 122 to address U.S. trade imbalances following the SCOTUS decision limiting tariff authority under IEEPA.

The Trump administration introduced a temporary global tariff surcharge under Section 122 of the Trade Act of 1974, a rarely used provision that allows the president to restrict imports to address serious balance-of-payments problems. The decision marks the next phase of U.S. tariff policy following the Supreme Court’s rejection of tariffs imposed under…