Section 122 global import surcharge (replacement for IEEPA tariffs)

On February 20, 2026, hours after the Supreme Court held that IEEPA does not authorize tariffs, the administration pivoted to a different statute: Section 122 of the Trade Act of 1974, which lets the president impose a temporary import surcharge of up to 15% for up to 90 days (extendable) to address balance-of-payments problems. Via Proclamation 11012, a 10% global surcharge took effect February 24, 2026, for a stated 150-day period — replacing the lost IEEPA revenue across nearly all U.S. imports.

The courts were not sold. On May 7, 2026, the U.S. Court of International Trade held in Slip Op. 26-47 that Proclamation 11012 was unlawful, finding the administration had exceeded Section 122's bounds. But on June 11, 2026, the Federal Circuit stayed that ruling pending appeal, so CBP continues to collect the 10% surcharge from importers today.

That is exactly why this entry is tagged legal-limbo: the tariff is being collected at the border right now, but a court has ruled it illegal and the appeal is unresolved. On top of that, Section 122's statutory clock runs out on July 24, 2026, after which the surcharge sunsets unless Congress extends it.

Status as of July 2026; verify before relying on this for decisions. The cleanest one-line summary: this is the IEEPA tariffs' replacement, it is currently in force but judicially disputed, and it is days from self-destructing by statute regardless of who wins the appeal.

Directly: Every U.S. importer of goods subject to the surcharge (nearly all imports)

Ultimately: U.S. consumers, via broadly higher import prices

Because it is global and undifferentiated, the surcharge lands on a far wider swath of goods than the country-specific IEEPA rates did.