Following the ruling, on February 23rd, Customs issued guidance that duties imposed under IEEPA would end at 12:00 am on Tuesday, February 24, to be replaced by a 10 percent global tariff under Section 122 of the Trade Act of 1974, which explicitly allows tariffs to correct balance of payments imbalances, or trade deficits. President Trump later announced on social media that he would raise the new tariff to 15 percent, but no official statements have been released at this time.
Some details have emerged. The new tariffs have an identical Annex II list of exemptions as the now defunct reciprocal tariffs. All articles and parts of articles that are currently, or later become, subject to Section 232 actions will also be exempt. USMCA-compliant imports from Canada and Mexico are also exempt.
The new scheme will remain in effect for 150 days, or until July 24, 2026. This date is required by law, unless the President suspends, modifies, or terminates it earlier, or Congress agrees to extend it.
ACMA continues to recommend members download all relevant reports from the Customs Automated Customs Environment (ACE) system for any future reimbursement program. The Supreme Court returned the case to the Court of International Trade to rule on the issue of reimbursements. In an interview on CNN, the Secretary of the Treasury Scott Bessent said the Administration would follow what the lower courts decide.
“We will follow what they say, but that could be weeks or months before we hear from them,” Bessent said. “The Supreme Court did not address refunds.”
The ruling applies to the following tariff actions, which are no longer in effect:
- Executive Order 14193, Imposing Duties To Address the Flow of Illicit Drugs Across Our Northern Border, 90 Fed. Reg. 9113 (Feb. 1, 2025), as amended;
- Executive Order 14194, Imposing Duties To Address the Situation at Our Southern Border, 90 Fed. Reg. 9117 (Feb. 1, 2025), as amended;
- Executive Order 14195, Imposing Duties To Address the Synthetic Opioid Supply Chain in the People’s Republic of China, 90 Fed. Reg. 9121 (Feb. 1, 2025), as amended;
- Executive Order 14245, Imposing Tariffs on Countries Importing Venezuelan Oil; 90 Fed. Reg. 13829 (Mar. 24, 2025);
- Executive Order 14257, Regulating Imports With a Reciprocal Tariff To Rectify Trade Practices That Contribute to Large and Persistent Annual United States Goods Trade Deficits, 90 Fed. Reg. 15041 (Apr. 2, 2025), as amended;
- Executive Order 14323, Addressing Threats to the United States by the Government of Brazil, 90 Fed. Reg. 37739 (July 30, 2025); and
- Executive Order 14329, Addressing Threats to the United States by the Government of the Russian Federation, 90 Fed. Reg. 38701 (Aug. 6, 2025), as amended.