Trump's New Tariff Battle: Section 122 Replaces Struck-Down IEEPA Powers

• President Trump invokes Section 122 of the Trade Act of 1974 for new tariffs after Supreme Court invalidates IEEPA use.
• Section 122 allows temporary tariffs (up to 15% for 150 days) to address 'large and serious' balance-of-payments deficits.
• Unlike IEEPA, Section 122 explicitly permits temporary import surcharges and does not require a formal investigation.
• Tariffs under Section 122 automatically expire after 150 days unless Congress extends them.
• Other trade tools like Section 301 (unfair practices) and Section 232 (national security) remain available for the administration.