Front-Running the Next Tariffs: We’ve Seen This Movie Before
The Supreme Court’s decision holding that the International Emergency Economic Powers Act (IEEPA) does not authorize tariffs has created an unusual near-term setup: a temporary “tariff valley” that could trigger another wave of import stockpiling in the months ahead.
With the IEEPA tariff regime struck down on statutory grounds, the administration pivoted to Section 122 of the Trade Act of 1974 , an authority designed to address short-term balance-of-payments problems. The White House initially described the new measure as a ten percent ad valorem import duty for 150 days, and…
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