What to Know About Trump’s New Tariff

February 23, 2026

President Trump announced on Feb. 21 that he was imposing a new 15% global tariff on all imports entering the U.S., effective immediately. The new tariff will replace the tariffs that were struck down by the Supreme Court the day before. To impose the new tariff, he is turning to a legal tool called Section 122 of the Trade Act of 1974. Broadly speaking, the provision, which has never before been used for tariffs, allows a president to impose tariffs of up to 15% for as long as 150 days to address problems caused by persistent trade deficits.

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