Recent developments in U.S. trade policy have resulted in changes to the tariffs applied to imported goods. Below is a summary of what these updates mean and what customers should be aware of moving forward.
Key Updates
IEEPA Tariffs Eliminated
The U.S. Supreme Court has struck down the tariffs previously imposed under the International Emergency Economic Powers Act (IEEPA). U.S. Customs and Border Protection will no longer collect these tariffs on entries made on or after February 24, 2026.
New Section 122 Tariff Introduced
A tariff under Section 122 of the Trade Act of 1974 will now apply to imports from all countries beginning February 24, 2026. The tariff is currently set at 10 percent, with the possibility of increasing to 15 percent, and may remain in effect for up to 150 days.
Limited Ocean Shipment Exception
Ocean shipments that were loaded and in transit prior to February 24, 2026 and entered into the United States before February 28, 2026 may qualify for an exemption from the new tariff.
De Minimis Remains Suspended
Duty-free de minimis treatment for imports valued under $800 remains suspended.
Refund Status
Although the IEEPA tariffs have been invalidated, there is currently no confirmed process for refunds. The courts and U.S. Customs and Border Protection must still determine whether refunds will be issued and how they would be handled. At this time, the ruling did not address refunds and no timeline has been provided.
Until official guidance is released, refunds should not be expected.
Ongoing Monitoring
We are actively monitoring updates from U.S. Customs and Border Protection, the Court of International Trade, and federal agencies. As additional information becomes available, we will provide updates.
If you have any questions, please contact your Ultraflex sales representative or reach out to our customer service team at CSR@ultraflexx.com.