US begins collecting new global tariff at 10%
The United States began collecting a new 10% global tariff on Feb. 24, a figure the White House said could still increase to 15%.
On Feb. 20, the Supreme Court struck down President Donald Trump’s tariffs imposed under the International Emergency Economic Powers Act. Shortly after, Trump signed an order imposing a 10% global tariff for 150 days under Section 122 of the Trade Act of 1974.
The next day, Trump said he would raise the tariff rate to 15%. However, the U.S. Customs and Border Protection’s official notice to shippers stated that the rate is 10%.
Trump has not yet signed a formal presidential order for the increase to 15%, and Customs can only act on published presidential executive orders and proclamations. No explanation was included in the notice for why the lower rate had been used.
Earlier this week, FedEx Corp. filed a lawsuit against the U.S. government seeking a full refund from the tariffs. Overall, the U.S. has already collected an estimated $130 billion in tariffs under IEEPA.
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