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Axios
Axios
Business

Trump signals new tariffs plan. Here's how Section 122 works

Donald Trump Greta Peisch the Supreme Court United States

After the Supreme Court's shock decision on tariffs Friday, President Trump quickly pivoted to another trade law: Section 122 of the Trade Act of 1974.

Why it matters: The global break from President Trump's tariffs will only be temporary. For months, top Trump officials said they had a "Plan B" if the highest court blocked their signature economic policy — which could leave hefty import taxes on foreign consumer goods essentially intact.

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