Trump's Temporary Global Tariffs Set to Expire July 24

President Donald Trump's temporary 10% global tariff, imposed under Section 122 of the Trade Act of 1974 after the Supreme Court struck down his blanket tariffs in February, is set to expire on July 24, Ben Werschkul reported for Yahoo Finance.

Shipping containers are stacked at a U.S. port ahead of the expiration of temporary global tariffs.

The emergency authority allows tariffs to remain in effect for only 150 days. Unless Congress extends the measure—which analysts consider unlikely—the authority will lapse on Friday.

The Trump administration is expected to replace the temporary tariffs with more permanent duties that could be announced in the coming days.

"We believe that the White House will move ahead with reverse-engineering its global reciprocal tariffs," Raymond James analysts said in a research note.

The administration could invoke Section 301 of the Trade Act of 1974, which authorizes tariffs following investigations into unfair trade practices.

A recent investigation into forced labor recommended a 10% tariff on imports from 14 countries and the European Union, and a 12.5% tariff on goods from another 45 countries, including China.