Trump's Tariff Plan B: 5 Months of Messier Trade Ahead

• US Supreme Court struck down tariffs under IEEPA, leading to Trump's Plan B.
• New 15% global tariff under Section 122 maintains effective rate near 9%, but policy mechanics are messier.
• Section 122 tariffs are time-bound for five months, bridging to complex Section 301 country-specific tariffs.
• Businesses face months of uncertainty with lengthy investigations and public hearings for Section 301.
• India sees marginal tariff relief, but faces increased uncertainty and no relative advantage in the interim.