USA · WORLD & POLITICS
US sets 10% tariff on most imports under Trade Act
Change
President Trump signed an executive order imposing a new 10% tariff on nearly all US imports effective February 24, 2026, with specified product and North American exceptions.
Why it matters
The tariff applies to nearly all imports, with exceptions including critical minerals, beef and fruits, cars, pharmaceuticals, and goods from Canada or Mexico. Because the order relies on Section 122 of the Trade Act of 1974, the tariff authority sunsets after 150 days absent congressional authorization, compressing the policy’s duration into a short statutory window. The administration also confirmed the de minimis exemption for sub-$800 ecommerce packages remains suspended despite the Supreme Court overturning most prior IEEPA-based levies, keeping higher friction and tax exposure for low-value parcel flows. The combination shifts near-term pricing, customs, and contracting assumptions for goods arriving after the effective date while leaving open a forced decision point at the 150-day mark on whether the tariff regime continues under the same or a different legal authority.
Implications
- • Broad import cost increase begins Feb 24, 2026
- • Section 122 tariffs expire after 150 days without Congress
- • De minimis suspension keeps duties/friction on sub-$800 parcels
- • Exception list creates product-specific relative price shifts
Who is affected
- • US importers of record and customs brokers
- • Retailers and manufacturers reliant on imported inputs/finished goods
- • Cross-border ecommerce platforms and parcel carriers
- • Exporters selling into the US (excluding Canada/Mexico for covered goods)
Source
Read original → Wired
Topics
World & Politics Policy & Regulation Trade & Tariffs Law & Public Safety Court Rulings