New global tariffs of 10% are now payable on imports into the USA from 24 February 2026.
The move follows Friday’s US Supreme Court ruling that the International Emergency Economic Powers Act (IEEPA), which President Donald Trump relied on to implement sweeping levies, does not authorise the President to impose tariffs.
According to estimates from economists at the Penn Wharton Budget Model, IEEPA-based tariff collections totalled around $175bn.
In response, Trump invoked his authority under Section 122 of the Trade Act of 1974 to impose a 10% temporary levy on imports, which will remain in place for up to 150 days.
The temporary import duty is intended to “address fundamental international payments problems and continue the Administration’s work to rebalance our trade relationships to benefit American workers, farmers and manufacturers,” according to an executive order signed on 20 February.
Some goods will not be subject to the temporary levy because they were implemented under Section 232 of the Trade Expansion Act of 1962. These include certain critical minerals and agricultural products, pharmaceuticals and pharmaceutical ingredients and some automotive products, including heavy-duty trucks.
On his social media platform Truth Social, Trump said he would raise worldwide tariffs to 15% “effective immediately”. However, there has been no official announcement.
International reaction to the Trump tariffs
The European Commission (EC) has called for full clarity on the steps the USA intends to take following the Supreme Court ruling.
It said the current situation is not conducive to delivering “fair, balanced, and mutually beneficial” transatlantic trade and investment, as agreed to by both sides and spelled out in the EU-U.S. Joint Statement of August 2025.
As the USA’s largest trading partner, the EC said it expects the US to honour its commitments – just as the EU stands by its commitments, noting ‘“a deal is a deal”.
James Mills, head of trade policy at Logistics UK, explained that as the USA is the UK’s largest single-country trading partner accounting for around one sixth of all UK exports, any changes to tariff arrangements matter significantly for British businesses.
“Companies now need urgent clarity on how the proposed 15% levy will apply in practice and confirmation that previously agreed sector arrangements will be honoured.”
Uncertainty continues
The Supreme Court ruling does little to eliminate uncertainty around future trade and refunds.
Alex Saric, smart procurement expert at global spend management firm Ivalua said that despite the ruling the damage is already done.
“Companies have restructured sourcing networks, absorbed margin pressure and invested heavily in diversification. A Supreme Court reversal does not undo past disruptions or eliminate the risk of new tariffs under a different authority.”
He warned that businesses that retreat to single-region sourcing to chase short-term cost relief risk repeating the same vulnerability. “Trade volatility isn’t an occasional shock anymore; it’s a permanent operating reality. Businesses should treat this moment not as relief, but as validation of the need for dynamic supply chain planning.”
Meanwhile, Parcelhero’s head of consumer research, David Jinks, warned that the £1.2bn slump in UK exports since Trump took office will be the “tip of the iceberg” if the USA goes ahead and imposes a 15% global tariff
“Even the 10% global tariff introduced this week is bad for the UK, as it means Chinese exports to the USA will plummet in price, eliminating the UK’s hard-fought advantage.”
He added: “The 15% tariff, if it is introduced, will harm the UK far more than those countries that the USA has a trade deficit with.”
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