Temporary U.S. Section 122 tariffs set to lapse July 24, fueling import front-loading

Summary

The temporary 10% Section 122 global import tariff, imposed after the Supreme Court struck down earlier reciprocal tariffs, expires at midnight on 24 July. Importers are front-loading cargo ahead of the deadline and a possible new forced-labor Section 301 round expected in early August, driving record U.S. port volumes.