US Exclusive: Changes in Tariff Structure

Supreme Court Decision on Presidential Tariff Authority

On Friday, February 20, the Supreme Court determined that President Trump overstepped his authority by implementing reciprocal and fentanyl-related tariffs through the International Emergency Economic Powers Act of 1977 (IEEPA). That same day, President Trump introduced a new 10% worldwide tariff under Section 122 of the Trade Act of 1974, which he increased to 15% on Saturday.

This special analysis explores alternative legal frameworks to the IEEPA for enacting tariffs. We also examine the consequences for America's trading partners, the overall average tariff rate, and the impact of tariffs on government revenue.