Washington DC (USA) — The U.S. Customs and Border Protection (CBP) has said it will stop collecting tariffs imposed under ‘The International Emergency Economic Powers Act (IEEPA)’ from February 24 after the U.S. Supreme Court struck a blow to President Trump.
The notice, sent through ‘The Cargo Systems Messaging Service’, states that all tariffs related to President Donald Trump’s previous orders related to IEEPA will be nullified. This decision was announced three days after the US Supreme Court ruled these tariffs illegal. The court’s decision is likely to lead to a large number of claims for refund from importers.
New 15% import tariff will be levied
‘CBP’ clarified that the moratorium is limited to tariffs imposed under the IEEPA and will not affect the 15 percent import duty imposed by the current president under other laws at all, including those imposed under Section 232 of the Trade Expansion Act based on national security grounds and those imposed under Section 301 of the Trade Act, which deals with unfair trade practices.
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