Business · 24 February 2026
New 15% US import tariff starts today after court ruling
A new 15% global import tariff imposed by President Trump under Section 122 of the 1974 Trade Act came into force at 12:01 a.m. ET on 24 February. It replaces emergency tariffs the Supreme Court struck down in a 6-3 ruling on 20 February, which found Trump's use of emergency powers under IEEPA to impose tariffs was unconstitutional. The new levy applies to approximately $1.2 trillion in imports and expires after 150 days. Canada and Mexico are reassessing their trade positions following the change.
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