New US Tariffs Imposed

New US Tariffs Imposed The United States has officially begun collecting a new 10 percent global import tariff today, February 24, 2026, following a significant Supreme Court decision last week that struck down President Donald Trump's previous emergency tariffs. This new tariff, implemented under Section 122 of the Trade Act of 1974, aims to address fundamental international payment issues, with the Trump administration actively working to escalate the rate to 15 percent, causing considerable confusion and concern among businesses and international partners. The move comes after the Supreme Court's 6-3 ruling on February 20, 2026, rejected the President's authority to impose duties under the International Emergency Economic Powers Act (IEEPA), prompting the administration to seek alternative legal avenues to maintain its aggressive trade policy, which has already led to demands for refunds of an estimated $133 billion in previously collected tariffs from American businesses. Source: Reuters via CTVNews