The purpose of this message is to provide guidance regarding the Presidential Proclamation, “Imposing a Temporary Import Surcharge to Address Fundamental International Payments Problems,” issued pursuant to Section 122 of the Trade Act of 1974 (Section 122), which imposed an additional 10% ad valorem duty on imported ...
President Trump is invoking his authority under section 122 of the Trade Act of 1974, which empowers the President to address certain fundamental international payment problems through surcharges ...
Within hours, the White House invoked Section 122 of the Trade Act of 1974. The proclamation imposed a flat 10% surcharge on most US imports, effective 24 February 2026, for 150 days. On 22 February, the surcharge was raised from 10% to 15%.
Section 122 in effect: what the US tariff regime looks like now
On Friday evening, in response to the Supreme Court decision (see our earlier advisory), President Trump issued three legally binding actions, including the removal of the existing IEEPA tariffs and the imposition of a new 10% global tariff under Section 122.
Understanding the New Section 122 Tariffs… | Kelley Drye & Warren LLP
Automobiles and auto parts already facing Section 232 tariffs of 25% do not also face Section 122. But auto parts that do not contain steel or aluminum, like electronic components, plastic trim, and rubber seals, may face the full 15% Section 122 surcharge if they do not qualify for USMCA origin.
Section 122 Tariffs Are Now Law. Here’s What That Means for Prices.