This publication will be updated as more details become available.

Actions taken by the U.S. Administration.

Hours after the ruling, President Trump activated a strategy to avoid dismantling his economic program:

• End of tariffs under IEEPA: As of February 24, “reciprocal” tariffs, fentanyl tariffs and country-specific levies on countries such as Brazil and India will no longer be collected.
• New 10% global tariff: Trump has invoked Section 122 of the Trade Act of 1974 which allows surcharges of up to 15% to correct serious balance of payments deficits). The new tariff is a 10% ad valorem across-the-board tariff on nearly every country in the world.
• Country exemptions: the legal text and annexes include exemptions for goods from Canada and Mexico entering duty-free under the T-MEC, and textiles/apparel from CAFTA-DR countries.
• Product category exemptions: Regardless of country of origin, there are long lists of products(Annex II) that do not pay 10% due to the needs of the U.S. economy, such as certain critical minerals, energy, pharmaceuticals and some basic foodstuffs such as beef, tomatoes and oranges.
• Mandatory temporality: Section 122 requires this measure to have a maximum duration of 150 days (expiring on July 24, 2026), unless Congress decides to extend it.
• Shielding of other tariffs and new investigations: The White House confirmed that “national security” (Section 232) tariffs on steel and aluminum, as well as Section 301 tariffs against China, remain in full force and effect.

_
Implications for European export companies

(Updated February 24)

The pacts reached last year, such as the EU pact, are in legal limbo:

• The tariff mechanisms of these agreements were based on HTSUS codes linked to IEEPA, which have become inoperative. With the Supreme Court ruling that IEEPA does not allow tariffs to be charged, these codes and their associated rules (such as the 15% cap for the EU) are no longer legally enforceable.

• Until the Trade Representative or the Treasury Department issues a new administrative order stating that the terms of the agreement remain in place under Section 122, the system simply applies the general +10% to everyone.

• As the overall Section 122 tariff is 10% and the IEEPA tariff for the EU was 15%, some products will see an immediate reduction in tariff burden.
• However, if a European product enjoyed a specific exemption agreed in the summer agreement that is not included in the new general list of exemptions (Annex II), that product will start paying 10% until its exemption is “reimplemented” under the new legal basis.

Instructions from the Bureau of Customs and Border Protection (CBP)

(Updated February 24)

Customs and Border Protection (CBP) has issued an official technical instruction to stop collecting the tariffs that the Supreme Court has just declared illegal.

1. Application and Validity

• Rate: An additional ad valorem duty of 10% is levied on imported goods from all countries.
• Start date: Applies to goods declared for consumption on or after 12:01 a.m. (Eastern Time) on February 24, 2026.
• Termination Date: The surcharge will expire at 12:01 a.m. (Eastern Daylight Time) on July 24, 2026 (a period of 150 days), unless extended.
• Technical Classification: The goods concerned should be declared under the new HTSUS heading 9903.03.01.

_
2. Exemptions and Traffic Rules

The communication details several categories that will not pay this 10% surcharge:

• Goods in transit (9903.03.02): Goods loaded on a vessel before February 24 and entering the U.S. before February 28, 2026.
• Trade partners (USMCA/CAFTA-DR): Goods from Canada and Mexico entering duty-free under the T-MEC, and textiles/apparel from CAFTA-DR countries.
• Sensitive products (Annex II): Includes an extensive list of exemptions for critical minerals, energy, pharmaceuticals, certain staple foods (beef, tomatoes, oranges) and civil aviation components.

_
3. Technical Reporting Instructions (HTS Sequence)

For customs brokers, CBP establishes a specific order of priority for reporting duties in the ACE system when a product is subject to multiple laws:

• First, Section 301 (unfair practices) tariffs.
• Second, the new Section 122 (balance of payments) surcharge.
• Third, Section 232 (national security) tariffs.

Finally, the communication confirms that drawback will be available for these new tariffs and that products in FTZs must be admitted underprivileged foreign status in order to be subject to this rate when released for consumption.

_