Decoding Section 122: The rarely used law behind Donald Trump’s new 15% global tariffs
President Trump has utilized a decades-old law, Section 122 of the Trade Act of 1974, to impose up to 15% import tariffs. This provision allows for temporary surcharges on goods, bypassing lengthy trade processes. However, these tariffs are subject to a 150-day limit unless Congress intervenes.
President Trump has utilized a decades-old law, Section 122 of the Trade Act of 1974, to impose up to 15% import tariffs. This provision allows for temporary surcharges on goods, bypassing lengthy trade processes. However, these tariffs are subject to a 150-day limit unless Congress intervenes.
