Trump Administration Imposes 10% Section 122 Tariff in Plan to Replace IEEPA Tariffs

On February 24, 2026, the Trump administration implemented a 10% additional global tariff under Section 122 of the Trade Act of 1974. The new Section 122 tariff is structured similarly to the previous International Emergency Economic Powers Act (IEEPA) tariffs, including a comparable set of product exceptions and an exception for products qualifying for preferential treatment under the United States – Mexico – Canada Agreement (USMCA). However, unlike the IEEPA tariffs, the Section 122 tariff... By: White & Case LLP