Section 122 and 301 replace IEEPA, raising doubts over durability of executive trade agreements with allies

The U.S. Supreme Court’s rejection of International Emergency Economic Powers Act (IEEPA)-based tariffs has destabilized the legal foundation of U.S. tariff agreements and introduced uncertainty into trade frameworks that allies had treated as stabilizing anchors.

In the days following the ruling, President Donald Trump imposed a 15% global import surcharge under Section 122 of the Trade Act of 1974 and directed the U.S. Trade Representative (USTR) to pursue new Section 301 investigations against major trading partners.

The U.S. Supreme Court’s rejection of International Emergency Economic Powers Act (IEEPA)-based tariffs has destabilized the legal foundation of U.S. tariff agreements and introduced uncertainty into trade frameworks that allies had treated as stabilizing anchors.

In the days following the ruling, President Donald Trump imposed a 15% global import surcharge under Section 122 of the Trade Act of 1974 and directed the U.S. Trade Representative (USTR) to pursue new Section 301 investigations against major trading partners.

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