U.S. Stops Collecting Trump’s Hiked Tariffs Based on IEEPA

The fallout continues from the Supreme Court’s ruling invalidating a broad swath of President Trump’s second-term tariff program, scrambling the US trade landscape just over one year into his second term, Yahoo Finance reported.

Trump has spent several days responding to the high court’s ruling on tariffs.

On Monday, US Customs and Border Protection said it would stop collecting all tariffs imposed under the International Emergency Economic Powers Act (IEEPA) as of 12:01 a.m. EST Tuesday.

In a message to shippers through its Cargo Systems Messaging Service, the agency said it would deactivate all tariff codes associated with President Trump’s IEEPA-related orders.

Elsewhere, European Union lawmakers postponed a vote to ratify the EU’s trade deal with the US, saying they need “full clarity” on Trump’s next steps before proceeding.

An assessment from the bloc later found that Trump’s newly instituted tariff likely violates the agreement.

Trump has spent several days responding to the high court’s ruling.

On Friday, he imposed a “global” tariff under Section 122 of the Trade Act of 1974. That statute allows the president to impose tariffs of up to 15% for up to 150 days to address trade deficits.

After 150 days, Congress must approve any extension.

The authority has never previously been used to impose tariffs. Trump signed an executive order late Friday imposing a 10% tariff under Section 122, then raised the levy to 15% on Saturday.