Dear Customers, Colleagues, and Friends,
We are issuing this advisory regarding a live press conference announcement today by President Trump indicating that the Administration intends to impose a new 10% global tariff on imports, reportedly through a separate legal authority following the recent Supreme Court ruling limiting IEEPA-based tariff authority.
At this time, no official Executive Order has been published, and U.S. Customs and Border Protection (CBP) has not issued a CSMS message or formal implementation guidance.
What Was Announced
During the press conference, the President stated:
- A 10% global tariff will be imposed through the legal authority of Section 122
- The measure is intended to take effect immediately.
- When asked about potential refunds related to previously collected IEEPA tariffs, the President indicated that any refund process would likely need to proceed through litigation. He did NOT indicate specifically
No additional implementation details were provided, including:
- Applicable HTSUS provisions
- Exemptions (if any)
- In-transit treatment
- Stacking with existing Section 232 or other tariffs
In short: Tariff implementation is controlled by CBP publication — not press conference statements.
We will continue to track all detailed guidance and will notify you as further regulatory instructions are released. In the meantime, if you have any questions or would like to discuss potential impacts on your shipments or sourcing strategy, our team at Krenz & Hannan is ready to assist.
Sincerely, Your friends at Krenz and Hannan International