The US Customs and Border Protection (CBP) announced a new 10 percent tariff on all goods without exemptions, following President Donald Trump’s initial declaration on Friday, deviating from his later promise of 15 percent. This decision came after the US Supreme Court overturned emergency tariffs, prompting Trump to introduce a temporary global tariff of 10 percent, with a subsequent plan to raise it to 15 percent.
In a recent notice regarding the Presidential Proclamation of February 20, 2026, CBP outlined that imports, excluding exempt products, would face an additional 10% ad valorem rate. The rationale behind opting for the lower rate was not disclosed, leading to confusion over US trade policies. While a White House official hinted at a potential increase to 15 percent in the future, this was not immediately verified by Reuters.
Deutsche Bank speculated that insights into the future of tariffs might emerge during Trump’s State of the Union address. Despite the 10 percent tariff being milder than anticipated, uncertainty about trade prospects contributed to a decline in European shares at the opening session.
The new tariffs came into effect at midnight, while the collection of tariffs invalidated by the Supreme Court was suspended. These tariffs had varied from 10 percent to 50 percent, and it remains uncertain how companies will be reimbursed for payments under the annulled regime.
Under Section 122 law, the president can levy these duties for up to 150 days to tackle significant balance-of-payments deficits and international payment challenges. Trump’s tariff directive highlighted the substantial US goods trade deficit, a current account deficit of 4 percent of GDP, and the reversal of the US primary income surplus as reasons for imposing the tariffs.
