Trump (U.S. President)Tèlǎngpǔ特朗普to invoke / to cite (legal authority)yuányǐn援引《Trade ActMàoyì Fǎ贸易法》Section 122dì yī bǎi èrshíèr tiáo第一百二十二条on / againstduì对allsuǒyǒu所有importedjìnkǒu进口goodsshāngpǐn商品to levy / to imposezhēngshōu征收10 percentbǎifēnzhī shí百分之十tariffguānshuì关税。
February 24, 2026 at 2:00 PM
New Words
News in English
BusinessTrump Invokes Section 122 of the Trade Act to Impose 10 Percent Tariff on All Imports
After the Supreme Court struck down tariffs imposed under IEEPA, the Trump administration imposed a 10 percent surcharge on all imports starting February 24 under Section 122 of the Trade Act of 1974. The move has triggered a legal challenge from 24 states and will automatically expire after 150 days unless extended by Congress.
The United States Supreme Court ruled on February 20th that the president has no authority to invoke the International Emergency Economic Powers Act to levy tariffs, forcing the Trump government to seek new legal authorization.
Several days later, President Trump invoked Section 122 of the 1974 Trade Act, signing a presidential proclamation imposing a 10 percent surcharge on all imported goods, which formally took effect on February 24th.
Section 122 authorizes the president to levy up to 15 percent tariffs within no more than 150 days, with extension beyond that period requiring Congressional approval.
This surcharge exempted goods from Canada and Mexico compliant with the USMCA, as well as energy, critical minerals, agricultural products, pharmaceuticals, and electronic products.
Trump subsequently announced plans to raise the tariff rate to 15 percent, but as of early March had not yet issued a formal executive order.
On March 5th, 24 states jointly filed a lawsuit against the US Court of International Trade, demanding to stop enforcement of these tariffs.
Yale University's Budget Lab data shows Trump's tariff measures since taking office represent the largest tax increase in the United States since 1993, projected to add approximately $1,500 average financial burden per household.
Analysts pointed out that under dual judicial and Congressional authorization constraints, the long-term direction of new tariff policy still presents major uncertainty.
More in Business
Chinazhōngguó中国planjìhuà计划20262026 nián2026年artificial intelligenceAIAIchipxīnpiàn芯片production capacitychǎnéng产能triplefān sānbèi翻三倍。
China Targets Tripling AI Chip Production in 2026 to Counter Nvidia Dependence
Chinazhōngguó中国artificial intelligenceAIAIchipxīnpiàn芯片manufacturerszhìzàoshāng制造商revenueyíngshōu营收significantlydàfú大幅growzēngzhǎng增长。
Chinese AI Chipmakers Report Soaring Revenue Growth in 2026 Earnings Season
United States / AmericanMěiguó美国July7 yuè7月Consumer Price Index (CPI)CPICPIonly / merelyjǐn仅to rise / to go upshēng升0.1 percent0.1%0.1%，interest rate hikejiā xī加息worry / concerndānyōu担忧to ease / to alleviatehuǎnjiě缓解。
US July CPI Rises Just 0.1 Percent as Tame Inflation Data Boosts Markets
Trian Fund Management (investment firm)Tèlǐān Jījīn特里安基金to plan / planjìhuà计划to acquire / takeovershōugòu收购Wendys (fast-food chain)Wēndí温迪，stock pricegǔjià股价to rise / to go upshàngzhǎng上涨13 percent13%13%。
Trian Fund Prepares Bid to Take Wendys Private as Stock Jumps 13 Percent