Supreme Court Ruling on IEEPA Imposed Tariffs

This morning on Friday February 20th, the Supreme Court made an official ruling on President Trump's "Liberation Day" tariffs falling under the International Emergency Economic Powers Act to be illegal. The court has not ruled on what will happen to the $130 billion in tariffs that has already been collected. The U.S. Customs Border Protection has not officially announced when these "emergency tariffs" will be removed. The decision does not affect all of Trump's tariffs, leaving in place ones he imposed on steel and aluminum using different laws, Sections 301 on China goods, and other tariffs. Please see below the tariffs that will be voided:

• China: 10% "Fentanyl" tariff to be removed

• Mexico: 25% across-the-board tariff to be suspended

• Canada: 25% general tariff and 10% energy/potash levy to be invalidated

• India: 25-50% duties to be voided

• Brazil: 40% punitive tariff on industrial and agricultural goods to be removed

• The EU & UK reciprocal tariff of 10-15% to be removed

• Japan & South Korea reciprocal tariff of 15% to be removed

• Taiwan & Vietnam reciprocal tariff of 19-20% to be removed

• Southeast Asia & South Asia reciprocal tariff 15% and more to be removed

We are still pending an official statement and guidance from the U.S. customs and Border Protection on how and when the removal of the IEEPA tariffs will take place, we will continue to update you cordially. Should you have any questions, always feel free to contact your sales rep or our team at support@cslexp.com