#CBP said in a message to shippers on its Cargo Systems Messaging Service (CSMS) that it will de-activate all #tariff codes associated with Trump's prior #IEEPA related orders as of Tuesday.

The IEEPA tariff collection halt coincides with Trump's imposition of a new, 15% global tariff under a different legal authority to replace the ones struck down by #SCOTUS on Friday.

#law #Trump #judiciary #economy #tariffs #trade #geopolitics

#CBP gave no reason why it was continuing to collect the #tariffs at ports of entry days after #SCOTUS’ ruling, & its message offered no information about possible #refunds for importers.

The message noted that the collection halt does not affect any other tariffs imposed by #Trump, including those under the Section 232 national security statute & the Section 301 unfair trade practices statute.

#law #judiciary #economy #trade #geopolitics

Under the #law #Trump has now invoked, Section 122 of the #Trade Act of 1974, #tariffs may last only 150 days unless #Congress extends them. And they’re capped at 15%, so Trump cannot raise them again.

Now that #SCOTUS deemed the old tariffs illegal, do the businesses that paid them get their money back?

#law #economy #inflation #affordability #CostOfLiving #business #geopolitics