U.S. Customs: Will stop collecting tariffs deemed illegal by the Supreme Court starting February 24

The U.S. Customs and Border Protection (CBP) announced that it will stop collecting tariffs imposed under the International Emergency Economic Powers Act (IEEPA) starting February 24, Eastern Time.

On the 22nd, the CBP stated through its cargo system messaging service that tariffs collected under the International Emergency Economic Powers Act will no longer be in effect, and goods entering the consumer market or being withdrawn from warehouses for consumption starting February 24, Eastern Time, will not be subject to this tariff. The announcement also noted that the suspension of this tariff does not affect any other tariffs imposed by the Trump administration.

Previously, on the 20th, the U.S. Supreme Court issued a ruling declaring that the large-scale tariff policy implemented by the Trump administration under the International Emergency Economic Powers Act was illegal.

On the same day, Trump announced after the Supreme Court ruling that he would impose a 10% import tariff on global goods for 150 days under Section 122 of the Trade Act of 1974, to replace the tariffs deemed illegal by the Supreme Court. On the 21st, Trump posted on social media that the "global import tariff" rate he announced the previous day for goods imported into the U.S. would be increased from 10% to 15%.

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