Overview
- Treasury Secretary Scott Bessent said the administration can replicate its tariff regime using Sections 301, 232, and 122, and he described the agenda as capable of being made permanent.
- Section 122 could quickly reimpose duties up to 15% for 150 days, Section 301 would require an investigation into unfair practices, and Section 232 allows national‑security tariffs without explicit time or rate limits.
- The Supreme Court heard arguments on Nov. 5 and is expected to rule by late 2025 or early 2026 on whether IEEPA supports the tariffs and whether importers can seek refunds.
- Importers have continued to pay reciprocal and country‑specific duties ranging from 10% to 41% since February, and legal advisors urge tracking entry and liquidation dates to preserve refund rights.
- Experts told Fortune the White House could also pursue legislation granting explicit tariff authority if the Court limits IEEPA.