Trump tariff chaos: What does 15% levy mean for trade deals the US signed?
US appeal court denies Trump bid to delay tariff refund lawsuits
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In February 2026, a US Supreme Court ruling declared President Trump's previous tariffs unlawful, stating he exceeded his authority by invoking the International Emergency Economic Powers Act. The court argued tariffs are a form of taxation, a power reserved for Congress. Trump responded by signing an executive order under Section 122 of the US Trade Act of 1974, initially imposing a 10% tariff on all countries the US trades with, then raising it to 15%. This law allows the president to impose tariffs for 150 days to address balance-of-payments deficits, requiring Congressional approval for extension. The new tariffs raise questions about existing US trade deals with countries including the EU, Vietnam, the UK, and India. The Supreme Court ruling does not affect tariffs on steel, aluminum, lumber, and automotives, which were imposed under a different law.
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AI-ExtractedSection 122 of the US Trade Act of 1974 empowers the president to impose tariffs of up to 15 percent.
Trump signed an executive order under Section 122 of the US Trade Act of 1974 to impose a blanket 10 percent tariff.
The court said tariffs are a form of taxation, and under Article I of the Constitution, the power to tax belongs exclusively to Congress.
Trump imposed tariffs against foes and allies using the International Emergency Economic Powers Act (IEEPA).
The United States Supreme Court declared Donald Trump’s sweeping tariffs unlawful.
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