Scott Bessent

Person

Last mentioned: 2d ago

Timeline

  1. Statutory Deadline

    The 150-day window for Section 122 tariffs expires unless extended by Congress.

  2. Expected Implementation

    Tariffs expected to be collected at ports of entry almost immediately.

  3. Executive Order Signed

    Trump signs 10% global tariff using Section 122 of U.S. trade law.

  4. SCOTUS Ruling

    Supreme Court strikes down previous tariff authority in a 6-3 decision.

Stories mentioning Scott Bessent 1

Policy Bearish

Trump Signs 10% Global Tariff via Section 122 After Supreme Court Setback

President Trump has signed an executive order imposing a 10% global tariff on all imports, bypassing a restrictive Supreme Court ruling by utilizing Section 122 of U.S. trade law. The move creates an immediate 150-day window of increased costs for global supply chains, requiring Congressional approval for any long-term extension.

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