Trump signs executive order imposing 10% global tariff under Section 122, first-ever use of the authority, hours after Supreme Court strikes down IEEPA tariffs

Hours after the Supreme Court struck down his IEEPA tariffs, President Trump signed an executive order imposing a new 10% global tariff under Section 122 of the Trade Act of 1974--the first time this authority has ever been invoked. Trump announced on Truth Social: 'It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately.' The tariff takes effect February 24 at 12:01 a.m. EST. Section 122 permits the president to impose tariffs of up to 15% to address 'large and serious' balance-of-payments deficits, but caps their duration at 150 days unless Congress votes to extend them. The executive order carved out exceptions for some agricultural products including beef, tomatoes, and oranges, as well as some critical minerals and metals, pharmaceuticals, some electronics, and passenger vehicles. Legal experts noted the statute has never been judicially tested since it has never been used, and its proper application could face legal challenges. Trade analysts observed that nothing in Section 122 clearly prevents the administration from allowing tariffs to lapse, declaring a new balance-of-payments emergency, and restarting the 150-day clock--effectively creating permanent tariffs through serial emergency declarations. The move represented an immediate attempt to circumvent the Supreme Court's ruling by finding alternative legal authority for the same policy the Court had just declared illegal.

"It is my Great Honor to have just signed, from the Oval Office, a Global 10% Tariff on all Countries, which will be effective almost immediately." — Trump Truth Social post announcing Section 122 executive order, hours after Supreme Court struck down IEEPA tariffs