Jaguar Freight | Switchover from IEEPA to Section 122 Tariffs

Notice: Switchover from IEEPA to Section 122 Tariffs in Effect

As of 12:01 AM EST February 24, U.S. IEEPA Tariffs have been replaced with a new 10% Section 122 Tariff. This is the result of the U.S. Supreme Court striking down the long-debated IEEPA Tariffs last week, deeming them unlawful, and President Trump using his authority to replace them with the temporary (150-day) Section 122 tariff announced this past weekend.

Be aware, an “on the water” exception may exist for goods in transit before 12:01 AM Feb. 24 if they enter for consumption by Feb. 28. You should verify this with your broker.

Also note that previously paid IEEPA tariffs are not guaranteed to be refunded. The matter goes to the Court of International Trade, and outcomes may take years. Consult professional advice on the refund process and timelines.

Section 232 Tariffs on steel, aluminum, autos, and other specific goods will remain in place and are unaffected by this ruling.

Compliments of Jaguar Freight – a member of the EACCNY