Tariff Updates – President Trump Announced Section 122 Tariff Rate Increase to 15%

President Trump announced on today’s Truth Social post that he will raise the 10% ad valorem import duty under Section 122 of the 1974 Trade Act to 15% maximum rate on all goods entering the United States over the next 150 days. 

From Truth Social post:

“Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been “ripping” the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level. During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of Making America Great Again – GREATER THAN EVER BEFORE!!! Thank you for your attention to this matter. President DONALD J. TRUMP”

This announcement follows his statement on Friday, Feb. 20, in which he said he would impose a 10% global tariff under Section 122 in response to the U.S. Supreme Court’s ruling that invalidated the administration’s use of tariffs under the International Emergency Economic Powers Act (IEEPA). He also noted that existing tariffs under Sections 232 and 301 will remain in effect. 

To our valued customers seeking clarification on how the recent SCOTUS decision may affect entries that have already been filed and paid, as well as shipments currently in transit to the United States, U.S. Customs and Border Protection (CBP) issued a CSMS notice yesterday stating that they are coordinating with other government agencies to fully assess the decision’s implications. CBP will release additional information and technical guidance for ACE filers as soon as it becomes available.

Flegenheimer will continue to monitor these updates and keep you posted.  

Flegenheimer Team