“We're going to have 10 to 20% tariffs on foreign countries that have been ripping us off for years.”
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Executive Order 14257 (April 2, 2025) imposed an additional 10% ad valorem duty on nearly all imports effective April 5, 2025, with higher country-specific 'reciprocal' rates, several later negotiated to around 15%. On February 20, 2026 the Supreme Court held that IEEPA does not authorize presidential tariffs, but the administration immediately reimposed a 10% global import duty under Section 122 of the Trade Act of 1974 effective February 24, 2026. Tariffs in the promised 10-20% range have therefore been continuously in effect since April 2025 and remain in effect as of July 3, 2026, though the Section 122 duty is time-limited (150 days, to late July 2026) and faces its own court challenge.
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